The IEA called its major producers for an increase in oil production


The International Energy Agency called the countries of OPEC and other major oil producers for the increase of their production, Bloomberg reports. In its appeal, the IEA notes the danger of the current situation, as the oil markets are entering the red zone. IEA experts have already expressed concerns about the rise in oil prices, which, in their opinion, will affect demand in a number of the most rapidly developing countries. They believe that oil producers should take significant measures to increase supplies, otherwise the fourth quarter will be very difficult. Oil prices rose by 20% from August, amid a faster-than-expected reduction in Iran’s exports and a decline in production in Venezuela.

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