OPEC reduced the forecast for global oil demand by 2021 in the report. Against this background, the price of oil on the world market is falling.
Brent oil futures for January delivery fell by 0.76% to $ 82.24 a barrel.
Meanwhile, WTI December futures fell by 0.69% to $ 81.03 a barrel.
The OPEC + ministers, at a meeting on November 4, unanimously decided to follow the plan and not to increase oil production more than planned.
Due to the declining demand for oil caused by the coronavirus pandemic, OPEC + has reduced production by 9.7 million barrels per day since May last year.
With the stabilization of the situation, oil production has more or less resumed. From August 2021, the Alliance increased oil production by 400 thousand barrels per month.
Since then, the organization's member states have met every month and discussed the production plan for the coming month.
