RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2020-10-01 13:40:00

OPEC+ CUTTING COMPENSATION 2.375 MBD

OPEC+ CUTTING COMPENSATION 2.375 MBD

PLATTS - 01 Oct 2020 - The OPEC+ alliance has 2.375 million b/d of so-called "compensation cuts" due to make up for previous overproduction in violation of quotas, but not all members have submitted plans to implement the extra reductions, according to an internal document seen by S&P Global Platts.

Of the 13 OPEC+ members required to make compensation cuts, only six have outlined their planned schedule of cuts, which total 1.222 million b/d, the document shows.

The largest volume will come from Iraq, whose 698,000 b/d of catch-up cuts will be divided into 203,000 b/d in September and 165,000 b/d in October, November and December.

Russia, which had the second largest excess output at 333,000 b/d, did not submit a plan, according to the document.

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.

Under the pact, any member that pumped above its quota in a particular month must atone with additional cuts below their quota in subsequent months by the end of the year.

The OPEC+ monitoring committee, co-chaired by Saudi Arabia and Russia, is next due to meet Oct. 19 online to review September compliance.

-----


Earlier:

OPEC+ CUTTING COMPENSATION 2.375 MBD
2020, September, 30, 13:10:00
OIL PRICE: NOT BELOW $40 AGAIN
Brent dropped 40 cents, or 1%, to $40.63 per barrel, WTI fell 32 cents, or 0.8%, to $38.97.
OPEC+ CUTTING COMPENSATION 2.375 MBD
2020, September, 29, 13:00:00
OIL PRICE: NOT BELOW $42 AGAIN
Brent fell 32 cents, or 0.8%, to $42.55 a barrel, WTI dropped 34 cents, or 0.8%, to $40.26 a barrel
OPEC+ CUTTING COMPENSATION 2.375 MBD
2020, September, 29, 12:55:00
УСТОЙЧИВОСТЬ ИНВЕСТИЦИЙ В ЭНЕРГЕТИКУ
Выработанный комплекс принципов в этой области, таких как повышение доступности энергетических данных, обеспечение инвестиций в устойчивые энергетические системы, обеспечение устойчивости цифровых энергетических систем, на наш взгляд, отвечает действительности и подтверждает основные концепции, обсуждавшиеся и согласованные в предыдущие годы.
OPEC+ CUTTING COMPENSATION 2.375 MBD
2020, September, 28, 12:10:00
OIL PRICE: NOT BELOW $41 AGAIN
Brent fell 37 cents, or 0.9%, to $41.55 a barrel, WTI was at $39.86 a barrel
OPEC+ CUTTING COMPENSATION 2.375 MBD
2020, September, 28, 12:05:00
ТРАНСФОРМАЦИЯ МИРОВОЙ ЭНЕРГЕТИКИ
Структура энергетической отрасли будет трансформироваться, как со стороны спроса, так и со стороны предложения.
OPEC+ CUTTING COMPENSATION 2.375 MBD
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,
OPEC+ CUTTING COMPENSATION 2.375 MBD
2020, September, 25, 12:55:00
RUSSIA'S OIL EXPORTS DOWN, LNG UP
Russia’s crude oil export in January-July 2020 was down 4.2% year-on-year to 143.2 mn tons. In terms of value, crude oil export decreased by 36.6% year-on-year making $43.9 bn.
All Publications »
Tags: OPEC, RUSSIA
Chronicle:
OPEC+ CUTTING COMPENSATION 2.375 MBD
2022, July, 6, 10:59:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
OPEC+ CUTTING COMPENSATION 2.375 MBD
2022, July, 6, 10:58:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
OPEC+ CUTTING COMPENSATION 2.375 MBD
2022, July, 6, 10:55:00
S.KOREAN NUCLEAR POLICY
"it is imperative that new energy policy goals and directions are set so as to better accomplish carbon neutral government projects and the expansion of nuclear power."
OPEC+ CUTTING COMPENSATION 2.375 MBD
2022, July, 6, 10:50:00
RUSSIAN NUCLEAR FOR ARMENIA
The joint working group was chaired by Armenia’s Deputy Minister of Territorial Administration and Infrastructures, Hakob Vardanyan. The Russian delegation was headed by Viktor Kolesnikov, project manager and Advisor to the President of Rusatom Energy Projects.
OPEC+ CUTTING COMPENSATION 2.375 MBD
2022, July, 6, 10:45:00
IRANIAN NPP 360 MW
At the moment, the only functioning nuclear power plant in Iran is the first stage of the Bushehr NPP, built with Russian assistance.
OPEC+ CUTTING COMPENSATION 2.375 MBD
2022, July, 5, 12:35:00
OIL PRICE: BRENT NEAR $113, WTI ABOVE $109
Brent fell by 60 cents, or 0.5%, to $112.89 a barrel, WTI climbed $1.13, or 1.1%, to $109.58 a barrel.
OPEC+ CUTTING COMPENSATION 2.375 MBD
2022, July, 5, 12:30:00
RUSSIA, INDIA: RELIABLE PARTNERS
Many of our companies, including energy companies, are operating in Indonesia. There is interest in developing the national nuclear power industry.
All Publications »