Opec+ is discussing cutting as much as 1mn b/d from current oil production quotas, which could take the group's total cuts to 3.1mn b/d below October 2018 levels, sources say.
News ID: 8574 Publish Date : 2020/03/04
Opec's Economic Commission Board (ECB) met this week and concluded that crude markets require further monitoring to evaluate the effectiveness of the group's production cut deal.
News ID: 7612 Publish Date : 2019/11/29
Kuwait will back an extension of OPEC-led production cuts beyond June if it's clear supply and demand factors warrant it, Haitham al-Ghais, Kuwait Petroleum Corp's manager for market research and the country's OPEC governor, said Wednesday.
News ID: 4312 Publish Date : 2019/04/11
Opec and its non-Opec partners still have plenty of work to do to rebalance global oil markets, and may need to extend their production restraint agreement to the end of 2019, UAE oil minister Suhail al-Mazrouei says.
News ID: 4139 Publish Date : 2019/03/24
A member of the Iranian parliament said the outcome of the 175th meeting of members of the Organization of the Petroleum Exporting Countries (OPEC) was a victory for Iran’s petroleum diplomacy.
News ID: 2875 Publish Date : 2018/12/10
Rising global oil supplies, a weaker outlook for global oil demand growth, and a recent $15/bl decline in oil prices have combined to make a compelling argument for the Opec and non-Opec Joint Ministerial Monitoring Committee ( JMMC ) to recommend a return to production restraints in 2019.
News ID: 2591 Publish Date : 2018/11/11
Kuwait’s Oil Minister Essam al-Marzouq said on Sunday OPEC and other oil producers will study before June the possibility of an exit strategy from the global oil supply-cut agreement.
News ID: 1649 Publish Date : 2017/12/11