Libya participates in OPEC + meeting

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Libya participates in OPEC + meeting

July 19, 2021 - 14:25
Written by: SafaAlharathy

Minister of Oil and Gas Mohamed Aoun participated Sunday in the online ministerial meeting of the OPEC plus states.

The19th session reviewed oil supplies and demands in the market and the commitment of member states to the agreed-upon production rates.

The group decided to increase the production rate by 400,000 barrels per month, starting from August 2021, until exhausting the agreed reduction in April 2020.

They also agreed to renew the accord concluded in April 2020 until the end of December 2022 after adjusting the production reference rates in May 2022.