Novak: accelerated global economic growth has opened OPEC+ the opportunity to increase oil production

17:00; 07 September 2025 year

Russian Deputy Prime Minister Alexander Novak said that the decision of the OPEC+ alliance to gradually increase oil production in the fall was due to improved macroeconomic forecasts and a balanced market. He made the corresponding statement in an interview with Rossiya 24 TV channel following a meeting of ministers of eight key countries participating in the agreement.

According to Novak, the current market situation is characterized by a stable balance of supply and demand. At the same time, forecasts for global economic growth for 2025 have been revised upward, which stimulates energy consumption.

He also noted the high level of execution of the deal by OPEC+ countries as a whole.

On September 7, the ministers of the eight OPEC+ countries agreed to increase production by 137,000 barrels per day from October, arguing for an improvement in market fundamentals.

Investment

Events

Niches and markets

Technologies and trends

Development infrastructure