OPEC + will hold a meeting today to consider the possibility of easing restrictions on oil production. Participants will determine whether it can be increased by 500 thousand b / s. in the current environment, when in Great Britain and a number of other European countries there was discovered a new mutation of the coronavirus. Perhaps given the situation some countries will find it acceptable to wait with relief. In January, according to the agreement in force in the alliance, the volumes production cuts are 7.2 million bpd. This agreement was approved in May last year and started at 9.7 million b / d, after whereby the restrictions were gradually eased. The alliance decided to define contraction rate every month in order to adequately respond to the state of the market. The relaxation of the restrictions was decided keep within 500 b / s, without reducing the quota by more than this value. OPEC + plans to gradually reduce it to 2 thousand b / d, however, it is nevertheless possible depending on the market situation its increase.
