OPEC Plus made decisions based on data: expert
An expert on regional issues has said that OPEC Plus factors have shown that oil production is not equal to the level of the world’s demands and because of that, it moved toward a decrease in production.
Sabah Zangene said in an exclusive interview with ILNA that recently, the members of OPEC Plus have reached an agreement to reduce two million barrels of daily production.
He emphasized that the disagreements that have been created are rooted in the energy crises as the result of the Ukraine war.
However Saudi Arabia and the members of OPEC Plus are almost in coordination with each other but the data have shown that the oil supply by the members of this organization is more than demand and because of that they made new decisions, he said.
He added that it came at a time when Europe and the U.S. have decreased their demand for buying more oil, a move that undoubtedly had and will have a political effect.