Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

Top oil producers agreed at last week’s meeting in Vienna to extend cutbacks to 1.7 million barrels a day.

At the Vienna meeting. OPEC+ agreed to reduce its output target by 500.000 barrels a day in the first quarter.

Asia'.s fourth biggest oil consumer imported 112.55 million barrels from the North American producer over January-October.

Saudi Arabia will continue a voluntary reduction of 400.000 barrels a day below its official target.

The key uncertainty facing the oil market now is OPEC+ supply from April.

Tehran will never back down on its right to produce and export oil after the unilateral sanctions are lifted.

Russia is not an OPEC member. but it should be treated the way other OPEC members are treated.

The 14-member Organization of the Petroleum Exporting Countries (OPEC) agreed to deepen its output cuts in Vienna at the 177th OPEC meeting by 503.000 bd as of January 1. 2020 from 1.2 mbd to 1.703 mbd.

Following a short stay in the 7th OPEC+ meeting. Zangeneh told reporters that the negotiations were good and favorable results were obtained.

Aramco shares will begin to be trade publicly on Saudi stock exchange Tadawul next week.