OPEC+ decided at its meeting on Sunday to continue cutting oil production without changing the quotas set in October. Thus, the volume of oil production will continue to decrease by 2 mln bpd each month. The alliance announced the results in its official communiqué.

OPEC+ stressed that in case additional measures are required to stabilize the market the participants are ready to discuss them at any time by organizing an extraordinary meeting. As stated in the document, the alliance intends to be proactive and proactive, immediately responding to changes in the market to ensure its balance and stability, if deemed appropriate.

The next ministerial meeting was scheduled by the alliance participants for June 2023, and the next meeting of the monitoring committee is scheduled for February 1, Prime news agency, citing RIA Novosti.