OPEC+ ministers discuss 400,000 barrels of recovery baseline

At the talks on Thursday, OPEC+ countries adhere to the basic plan to restore oil production in January - by 400,000 barrels per day, other options are not considered, Report informs that a source participating in the negotiations told TASS.

"Nothing new, the baseline scenario is being discussed," he said. Another source noted that the discussions had already moved into the format of the OPEC+ ministerial meeting. A few minutes ago, a meeting of the monitoring committee of the countries participating in the cartel and outside the organization ended, at which no recommendations were made on the levels of oil production for January.

OPEC+ countries have been restoring oil production at a rate of 400,000 barrels per day per month since August, this plan is basic. It was planned to keep it until the spring of 2022. However, due to high uncertainty, OPEC+ ministers gather at the beginning of each month for an online conference to confirm or revise it for the coming period.