Novak said after the 3 December meeting. Last week, he said that Russia would still support an increase in production [from 1 February] "if the situation is normal, stable." Opec+ needs "to smoothly, gradually
Ahead of Thursday's meeting, OPEC Secretary General Mohammed Barkindo stressed the need to remain cautious as several ministers pushed for the loosening of production quotas. He warned the Covid crisis still posed downside risks to the global economy and the distribution of vaccines, which favor...
Moreover, OPEC+ production may lag behind policy or meetings, as some of OPEC's production adjustment policies do not commence on the second day of the meeting. Additionally, certain member countries may require time to adjust their production facilities. Thus, this study endeavors to develop a...
Although the OPEC monthly report shows that progress in production cuts has been blocked, crude oil prices have not fluctuated much in the short term. Major OPEC+ member states will hold an online meeting at the beginning of next month to review market conditions. The ministers of the member ...
It was the first official monthly meeting of the OPEC+ group since its leader, Mohammad Sanusi Barkindo, died at age 63 in his home country of Nigeria last month. Haitham al-Ghais, a veteran of the Kuwait Petroleum Corporation, took over as secretary general of OPEC this week. In...
Referring to the voluntary cuts, the OPEC Secretariat said they represent "a precautionary measure aimed at supporting the stability of the oil market." The JMMC will next convene on June 4, with a full ministerial meeting to follow.
the Declaration of Cooperation (DoC) countries have decided in their 35th OPEC and non-OPEC Ministerial Meeting to continue their precautious, proactive, and pre-emptive approach and hence maintain their production adjustments until end of 2024, while monitoring the market closely to support stability...
cuts into 2025 but with a caveat that the group could start to unwind, in stages, the 2.2mn b/d 'voluntary' cuts taken by some members over 12 months from October. Front-month Ice Brent crude prices have since the meeting fallen below $80/bl for the first time...
Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat. MORE INFORMATION Shell appeased and collaborated with the Nazis. The oil giant instructed its employees in the Netherlands to complete a form giving particulars about their descent...
“OPEC + said following an online meeting on Friday that Iraq exceeded its quota by pumping 602,000 barrels per day in total in the first three months of 2024, while Kazakhstan exceeded its quota by pumping 389,000 barrels per day. On June 2, 2024, OPEC + announced its plan to Increase...