The reductions will be taken from the quotas adopted at the last OPEC+ ministerial meeting in June. It will add to the voluntary output cuts announced by OPEC+ countries in April and will last until the end of 2024, the OPEC statement read. In breakdown, Saudi Arabia, the de facto leader...
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“Every member country acknowledges the need to reduce output to support prices into 2024,” he said. “The question is how to share the burden of this.” Read: What’s at stake for oil prices as OPEC+ delays closely watched meeting At the last OPEC+ ministerial meeting ...
In June, a meeting of oil ministers from OPEC and its allies, a group known as OPEC+, reiterated the importance of adhering to full conformity and the compensation mechanism. OPEC+ decided at the meeting to extend its current output cuts at least into the third quarter of this year.■...
After acquiescing to lower output quotas at their previous meeting in June, OPEC+’s west African members were unhappy to learn that Russia and Saudi Arabia, the bloc’s de facto leaders, wanted to further curtail output. 在6月份的上一次会议上,OPEC的西非成员国默许了降低产量配额,然后它们得知...
who planned to boycott the in-person get-together also walked out of another meeting in June ...
In the 4th OPEC+ Ministerial Meeting (held on June 23, 2018), OPEC+ countries declared that they have exceeded the required level of production cuts outlined in the 'Declaration of Cooperation', reaching 147% in May 2018. Therefore, OPEC+ decided that as of July 1, 2018, it will ensure...
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...
People pass near a petrol station at the Central Business District in Nairobi, capital of Kenya, on June 29, 2023. (Photo by John Okoyo/Xinhua) The meeting was co-chaired by Al Ghais and Zhang Jianhua, head of China's National Energy Administration. ...
Prices slumped following 2 June Opec+ meetings that left open the possibility of gradually removing some output curbs, before rebounding later in the week. Atlantic basin marker North Sea Dated fell by $2.82/bl to $78.22/bl in the week to 6 June, after dropping to $75.61/bl the previous ...