The representatives of the 13 OPEC Member States and their allies agreed to "adjust their total production level by 400,000 barrels per day during the month of February", according to a statement quoted by Agence France-Presse (AFP).
As for Angola, production is expected to increase by around 15 thousand barrels per day, when compared to the quota set for this month, thus settling at around 1,421 million barrels per day.
This decision was received without much reaction in the markets, as it had been widely anticipated by investors.
In December, producers had already adopted this challenge for January, despite concerns about Ómicron, which had led to a drop in barrel prices.
The goal is to return production levels to the market before the cut of 9.7 million barrels per day, adopted in April 2020 to offset the historic drop in energy demand caused by restrictions on mobility to curb the spread of the pandemic of covid-19.
At the most recent virtual meeting, held on December 2, OPEC+ confirmed the increase for this month, which raises joint production from 40.094 million barrels per day to 40.494 million barrels per day.
Of this volume, 24.554 million barrels per day correspond to production by OPEC members (excluding Venezuela, Iran and Libya) and 15.94 million barrels per day to the group of allies.
Venezuela, Iran and Libya do not integrate these limits as their industries face involuntary declines, attributed to reasons such as sanctions, conflicts or crises.
According to Spanish news agency Efe, Iranian crude exports could return to international markets this year, if an agreement is reached in international negotiations in Vienna to revive the agreement on its nuclear program.
The increase in oil supply by OPEC+ comes after, in November, the United States and other countries announced that they will use their strategic oil reserves, in a coordinated initiative, to try to lower prices.
The operation is carried out in parallel with other states that are major oil consumers, in particular China, India, Japan, South Korea or the United Kingdom, according to the White House.
Faced with the Ómicron variant, OPEC left its forecast for global oil demand in 2022 unchanged in its latest report, estimating a "mild and short-lived" impact.
The organization's experts estimate that consumption will increase by 4.15 million barrels a day to 100.79 million barrels a day this year, up 4.3 percent from 2021.
The price of a barrel of Brent crude, the benchmark in Europe, rose 52 percent last year, ending the year at $77.78, while the price of a barrel of Texas WTI oil rose 55 percent to $75.21 .
On Monday, ministers responsible for the 13-member OPEC sector named Haitham al-Ghais, a native of Kuwait, as the organization's next secretary general, succeeding Nigerian Mohamed Barkindo, whose term expires at the end of July.
The next OPEC+ meeting is scheduled for February 2nd.
