Social and Events

Redistribution of quotas between countries to reduce oil production would become main issue at the meeting.

The group started withholding supply in 2017 to prop up prices.

Caracas will support those OPEC + decisions that will lead to an acceptable oil price for all producers.

In the wake of the last sanctions on Iran. financial institutions became very conservative.

The parties will discuss possible increase of oil production.

OPEC. together with other key producers including Russia. started withholding output in 2017 to prop up prices.

OPEC members and independent producers will meet in the Austrian capital. Vienna. on 22 June to discuss a future production policy.

There is statistical evidence that storage is now managed more conservatively than in the past.

Iran is negotiating with Russia’s Gazprom Company for the development of Azar and Changooleh oilfields shared between Iran and Iraq.

China on Friday said it would retaliate by slapping duties on American export products. including crude oil.