The Organization of the Petroleum Exporting Countries and the allies said Wednesday that they would delay their ministerial meeting by four days, raising speculation that the oil producers will face a much more challenging path to an agreement on output
Concerns that the U.S. Federal Reserve may not cut rates at its December meeting have also capped oil prices.
OPEC+ is set to hold its next ministerial meeting in December.■
Following a virtual meeting earlier on Thursday, the eight nations said in a statement that they have agreed to extend their voluntary production cuts of 2.2 million barrels per day for two months until the end of November. These cuts, first announced in November 2023, were scheduled to be gr...
Although first discussed in 1982, the OPECquota systemwas formally adopted in March 1983 at an extraordinary meeting held inLondonthat set a production ceiling of 17.5 million barrels/day, reducing the OPEC price to a unified $28/barrel. This system proved to be even more anomalous given that...
作者: H Wang 摘要: The gap between OPEC+ crude oil quotas and production has widened, as the group's steady loosening of its pandemic cuts once again outpaced actual output gains in December, according to the latest S&P Global Platts survey. 年份: 2022 收藏...
The decision had been widely expected, though dissension that caused the meeting to be delayed by a few days had created some doubts that the oil cartel would maintain the cuts. Eight OPEC+ countries will extend their "voluntary adjustments" of 2.2 million barrels per day until the end of Ma...
VIENNA, December 1, 2023 – OPEC+ members have agreed to oil production cuts totaling 2.2 million bopd for early 2024, the oil and gas organisation announced on Thursday.The cuts are being calculated from the 2024 required production levels decided at a meeting held in June 2023, and are in...
Opec+ is likely to agree to raise production by 400,000 b/d in December at its 4 November meeting, as demand concerns ofset pressure to boost output further. Opec+ is likely to confrm a 400,000 b/d combined production hike for Decem- ber, several Opec+ delegates tell Argus, with one...
In the 5th OPEC+ Ministerial Meeting (held on 7 December 2018), OPEC+ decided to reduce the overall production by 1.2 mb/d, effective as of January 2019. Accordingly, our OPEC+ policy index has emitted a noteworthy positive signal, signifying that this production reduction policy may have a...