Iran Press/ Iran News: According to Shana, the oil and energy ministers of OPEC and non-OPEC countries met today (Monday, October 4) via videoconference.
At their 19th meeting in July, OPEC and its allies agreed to increase production by 400,000 barrels per day each month to end the supply limit of 5.8 million barrels per day.
In response to the collapse in demand at the height of the COVID-19 outbreak, OPEC+ limited production by 9.7 million barrels per day as of May 2020, equivalent to about 10 percent of global demand, but since then, with demand improving, it has eased supply constraints over time.
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