2020-04-13 11:50:00
OPEC+ OIL CUTTING 12.5 MBD
REUTERS - APRIL 12, 2020 - The Saudi energy minister said on Sunday that effective oil supply cuts by OPEC and its allies, a group known as OPEC+, will amount to 12.5 million barrels per day, because of higher output in April from Saudi Arabia, the United Arab Emirates and Kuwait.
Prince Abdulaziz bin Salman was speaking to Reuters by telephone on Sunday after OPEC and allies led by Russia agreed to cut oil output by a record amount - representing around 10% of global supply - to support oil prices amid the coronavirus pandemic, and sources said effective global cuts including countries from outside the alliance could amount to as much as 20%.
"I am honored to be a party of this historic moment and historic agreement," Prince Abdulaziz said.
The kingdom pumped 12.3 million bpd in April, which is higher than its agreed reference level of 11 million bpd under the new pact, meaning the effective cut by Saudi Arabia is about 3.8 million bpd. Actual oil production reductions from both Kuwait and the UAE will be also more than what was agreed under the agreement.
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Earlier:
2020, April, 10, 12:25:00
OIL PRICE: ABOVE $31
Markets were closed for the Good Friday holiday in major centres. But on Thursday, Brent oil prices LCOc1, which hit an 18-year low last month, were trading around $32 a barrel, half their level at the end of 2019.
2020, April, 9, 12:05:00
OIL PRICE: NEAR $34
Brent rose by almost 2.6%, or 87 cents, to $33.71 a barrel, WTI were up 5%, or $1.27 cents, at $26.36 a barrel
2020, April, 6, 14:55:00
ВЗАИМОДЕЙСТВИЕ ОПЕК+ РОССИЯ
«Россия считает необходимым объединить эти усилия. Мы готовы к договоренностям с партнерами и в рамках механизма ОПЕК+, и к взаимодействию с США по этому вопросу. В результате необходимо сократить добычу, предварительно, на 10 млн баррелей в сутки. Это должно происходить по-партнерски. Все понимают, что речь может идти о сокращении от уровня добычи 1 квартала текущего года», - подчеркнул Президент.
2020, April, 6, 14:50:00
СПРОС НА НЕФТЬ ВЫРАСТЕТ
«На нефтяном рынке спрос также падает, на 10-15%. Мы надеемся, что в течение нескольких месяцев с постепенным увеличением экономической активности спрос все же будет нарастать», - сказал Александр Новак.
2020, April, 6, 14:45:00
ВОЗМОЖНОСТЬ ОПЕК+ РОССИЯ
Мы при необходимости не исключаем и такой вариант развития событий. Если такое желание будет у стран, входящих в ОПЕК+ и стран, которые не входят, которые тоже сегодня проявляют активность, потому что попали в трудную ситуацию, — я этот вариант не исключаю.
2020, April, 6, 14:40:00
SAUDI ARABIA, RUSSIA OIL DEAL
Saudi Arabia raised its crude output to 12.3 million bpd on April 1 and said it planned to export to more than 10 million bpd starting from April.
2020, April, 6, 14:35:00
#OilPriceWar: OPEC+ DELAY TO APRIL 9
"Russia was not a supporter of ending the OPEC+ deal. President Putin and the Russian side are overall inclined towards a constructive negotiation process, there is no alternative for stabilizing the international energy market,"
