OPEC has agreed at its meeting today to considerably increase its production above the 400,000 barrels per day forecast for months to 650,000 barrels in July and as many in August.
In this meeting between OPEC and its partners led by Russia, which make up OPEC, it has been decided to increase production to compensate for the drop in Russian sales (one million barrels) due to economic sanctions and to contain prices.
The first consequence of this announcement has been an increase in the price of oil on international markets after the falls recorded on Wednesday. The Brent rate rose in the early afternoon to 117 dollars a barrel and the Texas rate to 116 dollars.
