Tag Archives: International Organizations

OPEC was discussing ‘soft targets’ of around 1.8 million bpd for Nigeria and 1 million bpd for Libya.

Nigeria would support an output cap for itself at 1.8 million b d and would continue to be responsible with its production.

Libya and Nigeria. both OPEC member states are exempted from the obligation to cut production within the deal.

".Whatever the agreement will be. we will support it.". the minister said.

Russia is the producer everyone is watching ahead of the OPEC meeting.

Oil market was in a much better position than it was last year. which was a result of producers complying with the cuts.

Oil prices have risen by more than 20% since September on the back of expectations for a deal extension.

OPEC members will discuss extension of the body'.s production cut plan to curb the global oil glut and rebalance the market.

Iraq is the second-largest crude oil producer in the Organization of the Petroleum Exporting Countries (OPEC) after Saudi Arabia.

Ten non-OPEC countries will attend the meeting of OPEC+ in Vienna on November 30 to discuss increasing the number of the deal’s participants.