The 5 December meeting will be a third consecutive Opec+ ordinary ministerial meeting to be held virtually rather than in Vienna. The last time Opec+ held its ministerial meeting in-person was in June 2023. By Bachar Halabi and Nader Itayim Related news posts Argus illuminates the markets ...
6, 2018. No oil output cut decision was announced on Thursday after hours of the meeting. (Xinhua/Liu Xiang) Prev 1 2 3 Next KEY WORDS:OPEC YOU MAY LIKE Oil prices plunge as no pullback deal reached at OPEC meeting OPEC looking for sufficient oil output cut: Saudi Arabia ...
OPEC was expected to agree on the amount of oil output cut in Thursday's meeting, however, there was no announcement of the oil output cut agreement after hours of meeting of the oil pumpers on Thursday, and a scheduled press meeting was canceled. OPEC is to discuss the joint oil output ...
Although all eyes will be on the fate of the 2.2mn b/d cut at the upcoming meetings, the fact it is a voluntary pledge and one agreed by only a handful of countries means, in theory, a decision need not happen at the ministerial meeting. As the eight countries participating in that...
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...
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...
The OPEC member states should probe into the reasons behind Qatar's withdrawal from the cartel, as some oil producers have created problems for Qatar, Zanganeh added. The Iranian minister also ruled out the possibility of discussing the quota of Iran's oil output in the next OPEC meeting. ...
OPEC meeting could be affected by Iraq.(The Dallas Morning News)Reddy, Sudeep
The much-anticipated meeting comes at a time when the oil market is near the bottom of its worst price plunge since the 2008 financial crisis. Oil prices have crashed around 30 percent over the last two months, ratcheting up the pressure on budgets in oil-exporting countries. ...
The two-day annual meeting of the organization of the petroleum exporting countries (OPEC) concluded on the afternoon of December 7 local time. Major producers, including non-opec countries like Russia, negotiated a new agreement to cut output by 1.2 million barrels a day. As the figure was ...