The US administration is positive towards the OPEC+ decision to increase quotas for oil production in September by 100,000 barrels per day, State Department Energy Security Adviser Amos Hochstein said Wednesday, as quoted by the AP.
“This is a step in the right direction,” Hochstein said.
The reports noted that while it was a slight increase in quotas, Hochstein did not elaborate.
Brent oil slightly down pending OPEC decision
The price fell to $110.2 per barrel
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“At the end of the day, we will not be evaluating the number of barrels, but whether oil prices are falling“, he said. According to Hochstein, the administration of President Joe Biden will seek to ensure that the price of the energy resource continues to fall.
Earlier on Wednesday, a source from one of the delegations said that OPEC+ ministers had decided to increase oil production quotas in September by 100,000 barrels per day.
The benchmarks remain in line with the decisions taken in July 2021, i.e. they don’t change.
The OPEC+ ministerial monitoring committee recommended increasing oil quotas in September by 100,000 barrels per day, although before its meeting the main option was to keep quotas at August levels.
