Informed sources revealed today, Wednesday, that several member countries of the OPEC+ alliance are pushing for an additional and accelerated increase in oil production, in a move aimed at supporting the markets and addressing the recent decline in prices.
This initiative is expected to be put on the table for discussion during the upcoming alliance meeting, scheduled for May 5, amid anticipation from investors and stakeholders in the energy market regarding the group’s production policy directions.
This call from some alliance members to accelerate production increases comes at a time when crude oil prices are experiencing a noticeable decline, raising concerns among some producers about the impacts of the ongoing trend on revenues and market stability.
While a unified position of the group on this proposal has not yet been announced, the varying priorities of member countries—between maintaining price balance and increasing market share—may make the decision pivotal in determining the market trajectory during the second half of the year.
