Iran Press/ Europe: The 27th meeting of the oil and energy ministers of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+ Coalition, began a few minutes ago via videoconference.
OPEC Secretary-General Mohammad Sanusi Barkindo made the remarks at a virtual meeting of the joint technical committee of OPEC and its allies, a group known as OPEC+.
Barkindo hailed the efforts made by OPEC+ countries to support stability in the global oil market and called on them to remain attentive to changing market conditions and focus on balancing the need, according to a statement released by the OPEC.
Wednesday's OPEC+ joint technical committee meeting was held to examine the oil market conditions and provide advice for the OPEC+ ministerial meeting on Thursday. The ministerial meeting, the decision-making body of OPEC+, will announce the alliance's production plans in May.
In July 2021, OPEC+ agreed to raise oil output by 400,000 barrels from March to gradually unwind the production cuts made at the height of the COVID-19 pandemic in 2020.
The oil-producer group has since been sticking to the plan despite calls from top consumers, including the United States, to boost supplies further to rein in soaring oil prices amid demand recovery and geopolitical tensions.
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