OPEC CONFORMITY LEVEL 98%
OPEC - The Joint Ministerial Monitoring Committee (JMMC) has expressed its utmost satisfaction with the steady and robust achievements of the two-year old 'Declaration of Cooperation' between OPEC and participating non-OPEC oil producing countries.
The JMMC noted that countries participating in the 'Declaration of Cooperation' achieved an overall conformity level in November 2018 of slightly below 100%, hitting 98% for the month.
It is evident that significant progress has been made towards the goal set at the 4th OPEC and non-OPEC Ministerial Meeting of 23 June 2018, whereby countries agreed to strive to adhere to the overall conformity level, voluntarily adjusted to 100%, as of 1 July 2018 for the remaining duration of 2018.
The overall conformity level since the beginning of the 'Declaration of Cooperation' in January 2017 is well above 100%, coming in at 116%.
The Committee confirmed the attached new voluntary production adjustments effective as of 1st of January 2019 for an initial period of six months, based on the unanimous decisions taken at the 175th Meeting of the OPEC Conference and the 5th OPEC and non-OPEC Ministerial Meeting on 7 December 2018.
These voluntary production adjustments will continue to be monitored by the JMMC on a monthly basis, ably supported by the Joint Technical Committee and the OPEC Secretariat, in an open and transparent manner.
The JMMC calls on all participating countries of the 'Declaration of Cooperation' to redouble their efforts in the full and timely implementation of the supply adjustments to ensure that the oil market remains in balance in 2019.
The thirteenth Meeting of the JMMC will take place in Baku, Azerbaijan on 18 March 2019.
|February, 18, 12:30:00|
|February, 18, 12:25:00|
|February, 18, 12:20:00|
|February, 18, 12:15:00|
|February, 18, 12:10:00|
|February, 18, 12:05:00|
ГАЗПРОМ - Как отметил по итогам переговоров Алексей Миллер, «строительство газопровода „Сила Сибири“ идет с опережением графика, „Газпром“ начнет поставки газа в Китай раньше намеченного срока — уже с 1 декабря 2019 года».
U.S. EIA - In December 2018, U.S. shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of total U.S. dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of total U.S. oil production). A decade ago, in December 2008, shale gas and tight oil accounted for 16% of total U.S. gas production and about 12% of U.S. total crude oil production.
REUTERS - On Thursday, the regional price of crude was at a $1.10 a barrel premium to U.S. crude futures, the strongest in more than a year as companies including Parsley Energy, Pioneer Natural Resources, Goodrich Petroleum Corp have pared their exploration budgets, easing the constraints.
U.S. FRB - Industrial production decreased 0.6 percent in January after rising 0.1 percent in December.