International transport: OPEC opens the valves while cleaning Moscow

648 000 is the number of additional barrels per day announced by the Organisation of Petroleum Exporting Countries (Op). But it will take until July to get on the market. This volume exceeds the monthly increase expected in the agreements since last quarter (+432,000 barrels per day), will not, however, be sufficient to cause a long-term fall in pricesthe majority of the member countries of the Organization are already at the maximum of their production capacity.

The current period, which is conducive to strong consumer demand (resumption of post-health crisis movements, lifting of confinements in China, first summer trips in the United States...) suggests that prices will remain high.

While the European Union is planning to set up an embargo on Russian oil by the end of 2022 (cf.International transport: European embargo on Russian oil would reorganize world tradeThe OPEC finally decided to loosen the valves a little (cf.Oil: OPEC defends Moscow and warns Brussels). Under the leadership of Saudi Arabia, this approach is intended to be reassuring for oil-using countries but is not expected to have much impact on prices, which have reached peaks. At the same time, the Organization continues to show its support for Russia, a long-standing ally.

To go further...

• Sales Administration (SDA) Subcontracting Export
• Import/export flow management (air & maritime)
• Diagnosis of international logistics flows

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