OPEC+ Meeting: no silver bullet to ease the supply crisis
OPEC+ meeting on Thursday, 31 March 2022 The meeting of the OPEC+ ministers that is scheduled to be at 13:30 Vienna time, according to the analysts who understand the pulse of the participants, is not going to produce any short-term miracles to bring the prices of crude oil down. On the contrary, they may emphasize the need of long term investments in the sector, lack of which is often blamed on the ambitious Net Zero targets. The OPEC+ is in no hurry to fill the potential vacuum left by the absence of Russian supply in the crude oil markets either. Russia, after all, is still a member of the cartel - a highly influential member that has been instrumental in coming up with the current strategy of putting the group's interests first. Although the group had made a decision to increase the production by 430,000 bpd, the statistics show that some member states could not deliver the required quota due to 'technical difficulties' that often come - or conveniently placed - under