Sunday , October 17 2021

OPEC + 2019 considers production to reduce 1-1,5 million. daily barrels | business


According to sources, negotiations are preliminary and final decision will be taken on how much output will be reduced in light of the reduction point agreed by the members of the group. According to the current OPEC + agreement, production from production level has decreased since October 2016.

The decision is believed to have been adopted at the OPEC meeting in Vienna in early December.

Reuters quoted Reuters as saying on Wednesday at OPEC + & # 39; s 2019 & # 39; reported that it is considering the possibility of reducing oil production by around 1.4 million. Barrel per day. According to agency sources, this was one of the options discussed at the OPEC + Monitoring Committee meeting held this weekend in Abu Dhabi.

Saudi Arabia Energy Minister Khalid al-Falihah said that production levels will be the starting point for the September-October 2018 season, if the decision to reduce oil production at the beginning of the week is taken.

According to the second source of OPEC, in October the oil production of cartel was 31.869 million. Barrel per day. Meanwhile, according to the data of the International Energy Agency (IEA), OPEC + countries produced 51.5 million units in September. barrels per day and in October – 51.65 million. Barrel per day.

On November 11, the OPEC + Monitoring Committee decided on an extraordinary meeting in which the excess supply in the oil market could occur in 2019, but decided to postpone deciding to reduce production until the December meeting to understand what Iranian oil buyers were temporarily released by the US. Prohibition of buying "black gold" in Iran.

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