The gradual adjustment of production levels begins next May. This cautious approach by OPEC member countries and their allies is facilitating the recovery in crude prices.

The ministers of the OPEC + member countries have opted for a gradual increase in oil production so as to maintain price stability. The adjustments should not exceed 500,000 barrels per day (Mbd).

The OPEC decision was well received by the markets, allowing a recovery in crude oil prices, in a context marked by a rebound in demand and an acceleration of vaccination against the coronavirus. Oil prices soared this weekend.
Thus, the barrel of Brent from the North Sea for delivery in June ended Friday at 64.86 dollars in London, up 3.37% compared to the close of the previous day.

In New York, the American barrel of WTI for the month of May also appreciated by 3.87%, to 61.45 dollars. Taking into account the global vaccination programs against the Covid-19 pandemic, the rate of which has increased from 2% to 7% in the space of a month.