Oil and energy ministers of the OPEC+ coalition member countries met today (Monday, September 14) for the 32nd time to decide on the policy of this coalition for the month of October.

Many analysts in the world believe that contrary to the request of Prince Abdulaziz bin Salman, the Saudi Energy Minister, to reduce the oil production of this alliance due to the drop in oil prices and going below $100, OPEC+ oil production quotas for October will remain unchanged.

The OPEC and Non-OPEC Technical Committee (JTC) announced in its meeting last week that the market needs more crude oil.

Alexander Novak, the Deputy Prime Minister of Russia, has recently announced that Russian oil companies support the extension of the OPEC Plus agreement.

Oil prices have been declining in the past three months due to concerns about interest rate increases, the corona virus quarantine in China, slow economic growth and weakening demand for fuel, while oil prices have risen to the highest record in the past few years in March. Was.

It seems that OPEC+ members will vote in today’s meeting to maintain the current level of crude oil production or slightly increase oil production. We will wait until the end of this meeting.