CBS Investment

OPEC decided to maintain the current quota of oil production, reports Bloomberg referring to the statement of representatives of countries that are members of the organization.

Currently, the quota for the extraction for 11 countries in the organization (Iraq is not subject to the quota) is set at 24.845 million barrels of oil per day, and most analysts did not expect any changes at the May meeting, reminded the “Interfax”.
As the Saudi Arabian Oil Minister Ali al-Nuaimi said, OPEC has maintained quotas in anticipation of recovery in demand for oil by the end of this year. Thus, the organization does not change the quota for the second meeting this year.