Sources from OPEC+ said that the meeting of senior ministers of the group maintained the oil production policy without any change. Oil prices have risen by more than 14% in July compared to June, marking the largest monthly increase since January of last year when the scarcity of supply and increased demand for oil overshadowed concerns about the impact of rising interest rates and inflation on economic growth.
OPEC+ reached an agreement to limit supplies until 2024 at its latest meeting in June. The production cuts of the coalition amount to 3.66 million barrels per day, approximately 3.6% of global demand.
