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2021-10-08 10:30:00

OPEC+ 400 TBD ANEW

OPEC+ 400 TBD ANEW

OPEC - 04 Oct 2021 - The 21st OPEC and non-OPEC Ministerial Meeting, held via videoconference, concluded on Monday, 4 October 2021. 

In view of current oil market fundamentals and the consensus on its outlook, OPEC and participating non-OPEC oil producing countries:

  1. Reaffirmed the decision of the 10th OPEC and non-OPEC Ministerial Meeting on 12 April 2020 and further endorsed in subsequent meetings including the 19th OPEC and non-OPEC Ministerial Meeting on the 18 July 2021. 
  2. Reconfirmed the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of November 2021, as per the attached schedule. 
  3. Reiterated the critical importance of adhering to full conformity and to the compensation mechanism taking advantage of the extension of the compensation period until the end of December 2021. Compensation plans should be submitted in accordance with the statement of the 15th OPEC and non-OPEC Ministerial Meeting 
  4. Will hold the 22nd OPEC and non-OPEC Ministerial Meeting on 4 November 2021.

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Earlier:

OPEC+ 400 TBD ANEW
2021, October, 6, 13:30:00
OIL PRICE: ABOVE $82
Brent rose as high as $83.47, the highest since October 2018, and was down 4 cents at $82.52. WTI rose as high as $83.47, the highest since October 2018, and was down 4 cents at $82.52.
OPEC+ 400 TBD ANEW
2021, October, 6, 13:25:00
GLOBAL OIL DEMAND WILL UP
"Global oil demand is expected to return to pre-COVID levels towards the tail end of 2022, but the recovery will be uneven. Asia is clearly the driver of growth," IEA Executive Director Fatih Birol said
OPEC+ 400 TBD ANEW
2021, September, 30, 12:20:00
OIL PRICE: NEAR $79 ANEW
Brent was down 8 cents at $78.56 a barrel, WTI rose 11 cents to $74.94 a barrel.
OPEC+ 400 TBD ANEW
2021, September, 29, 11:10:00
OIL PRICE: NEAR $78
Brent was down $1.34, or 1.7%, at $77.75 a barrel, WTI dropped $1.38, or 1.8%, to $73.91 a barrel.
OPEC+ 400 TBD ANEW
2021, September, 29, 11:05:00
GROWTH IN GLOBAL ENERGY DEMAND 28%
Total primary energy demand is set to expand by a robust 28% in the period to 2045.
OPEC+ 400 TBD ANEW
2021, September, 28, 13:50:00
OIL PRICE: ABOVE $80
Brent gained $1.05, or 1.3%, to $80.58 a barrel, WTI gained $1.05, or 1.3%, to $80.58 a barrel.
OPEC+ 400 TBD ANEW
2021, September, 27, 13:10:00
OIL PRICE: NEAR $79
Brent was up 92 cents or 1.2% at $79.01 a barrel, WTI added 83 cents, or 1.1% to $74.81.
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Tags: OIL, PRICE, OPEC