All publications by tag «OPEC»
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2020, October, 14, 11:55:00
OPEC PLANS TO REDUCE PRODUCTION
The 23-country OPEC+ alliance is in the midst of a 7.7 million b/d production
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2020, October, 12, 11:50:00
OPEC+ PRODUCTION: 99%
OPEC's 13 members produced 24.34 million b/d in September, a fall of 30,000 b/d from August, while its nine partners, including Russia, produced 12.72 million b/d, an addition of 50,000 b/d.
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2020, October, 9, 12:20:00
GLOBAL ENERGY DEMAND WILL UP BY 25%
Despite the large drop in 2020, global primary energy demand is forecast to continue growing in the medium- and long-term, increasing by a significant 25% in the period to 2045.
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2020, October, 6, 15:40:00
IRAQ'S OIL EXPORTS UP
Iraq, OPEC's second-largest oil producer saw exports edge up to 3.063 million b/d in September from 3.023 million b/d in August, which was the lowest export rate since March 2015, data showed.
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2020, October, 6, 15:35:00
UAE OIL PRODUCTION DOWN
UAE, the OPEC producer pumped 2.693 million b/d in August, 103,000 b/d above its quota of 2.590 million b/d under the OPEC + supply accord, and a rise of 293,000 b/d from what the country reported in July, when its cap was 2.446 million b/d.
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2020, October, 1, 13:40:00
OPEC+ CUTTING COMPENSATION 2.375 MBD
OPEC and 10 allies, including Russia, are in the midst of a historic production cut accord aimed at helping the oil market recover from the COVID-19 pandemic. The curbs initially started at 9.7 million b/d for May-July, before tapering to 7.7 million b/d from August through the end of the year.
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2020, September, 25, 13:00:00
OPEC+ IRAQ REDUCING
OPEC’s second-biggest producer, Iraq has failed in the past to fully comply with OPEC+ oil output reductions,
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2020, September, 24, 12:20:00
OPEC+ REBALANCING: 2021
The OPEC+ agreement, along with declines in production elsewhere, including the United States, brought global supply lower than the level of global demand for the first time since mid-2019.
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2020, September, 18, 12:30:00
OPEC+: 102%
The Committee reviewed the crude oil production data for August 2020 and welcomed the positive performance in overall conformity for participating OPEC and non-OPEC countries of the DoC, which was recorded at 102% in August 2020, including Mexico as per the secondary sources.
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2020, September, 18, 12:25:00
OPEC RESTORES BALANCE
Energy minister Alexander Novak said Russia "greatly values cooperation with OPEC," and that while overall compliance with the cuts is high, "I would like to urge everyone to view this very seriously and stick to the high level of conformity we were able to achieve."