Petrol, stop on the rise: agreement reached to lower prices

The agreement was reached by the producer countries and members of OPEC +. The goal is to raise production to 400,000 extra barrels per day so as to be able to slow down the rise in prices caused by higher demand

The gasoline price in recent months it has skyrocketed, more or less than 50% since the beginning of the year, with negative effects also for our country, where the price of fuel has returned to the levels of 2018 (gasoline above 1.63 euro / liter and diesel around 1.5 euros / liter).

However, in an effort to cool the rise in fuel prices, the news of the recent seems certain agreement found between OPEC + member countries, an intergovernmental organization made up of 13 oil exporting nations.

Petrol, pre-lockdown prices: 208 euros more per year

400 thousand extra barrels per day

According to what has been leaked, in fact, the members of the Opec + group, including the United Arab Emirates, Saudi Arabia, Russia, Iraq and Kuwait, will all have access to a higher production base. This stands for one increased oil production in the coming months, quantified in approximately 400 thousand extra barrels per day, every month, from here until the end of the year.

A boost that will increase total daily production to 2 million barrels in total by December.

Agreement also extended to 2022

Increases which, according to what has been established between the parties, will be able to continue again next year, with the extension of the agreement until December 2022. In short, with the new agreement reached in these hours prices should go down again, for the sake of peace also of motorcyclists and motorists.

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