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2021-12-03 12:00:00

OPEC + RUSSIA: + 400 TBD

OPEC + RUSSIA: + 400 TBD

OPEC - 02 Dec 2021 - 23rd OPEC and non-OPEC Ministerial Meeting

The 23rd OPEC and non-OPEC Ministerial Meeting (ONOMM), was held via videoconference, on Thursday December 2, 2021. The Meeting remains in session.

The meeting reaffirmed the continued commitment of the Participating Countries in the Declaration of Cooperation (DoC) to ensure a stable and balanced oil market. In view of current oil market fundamentals, the Meeting resolved to:

Reaffirm the decision of the 10th ONOMM on April 12, 2020 and further endorsed in subsequent meetings including the 19th ONOMM on July 18, 2021.

Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th ONOMM and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of January 2022, as per the attached schedule.

Agree that the meeting shall remain in session pending further developments of the pandemic and continue to monitor the market closely and make immediate adjustments if required.

Extend the compensation period until the end of June 2022 as requested by some underperforming countries and request that underperforming countries submit their plans by December 17, 2021. Compensation plans should be submitted in accordance with the statement of the 15th ONOMM.

Reiterate the critical importance of adhering to full conformity and to the compensation mechanism.

Hold the 24th OPEC and non-OPEC Ministerial Meeting on January 4, 2022.

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Earlier:

OPEC + RUSSIA: + 400 TBD
2021, December, 2, 12:35:00
OIL PRICE: NEAR $70
Brent rose $1.24, or 1.8%, to $70.11 a barrel, WTI gained $1.13, or 1.7%, to $66.70 a barrel.
OPEC + RUSSIA: + 400 TBD
2021, December, 2, 12:30:00
OPEC REMAIN PRUDENT
In these uncertain times, it is imperative that we – together with the non-OPEC countries in the DoC – remain prudent in our approach and prepared to be proactive as market conditions warrant.
OPEC + RUSSIA: + 400 TBD
2021, December, 1, 16:15:00
OIL PRICE: NOT BELOW $72
Brent rose $3.25, or 4.7%, to $72.48 a barrel, WTI rose $3.01, or 4.6%, to $69.19 a barrel.
OPEC + RUSSIA: + 400 TBD
2021, November, 30, 13:30:00
OIL PRICE: ABOVE $71
Brent fell $2.32, or 3.2%, to $71.12 a barrel, WTI fell $2.15, or 3.1%, to $67.80 a barrel.
OPEC + RUSSIA: + 400 TBD
2021, November, 30, 13:25:00
OPEC+: NO HASTY DECISIONS
"We need to monitor how the situation develops, we must carefully monitor the market. There is no need to make hasty decisions," Novak said.
OPEC + RUSSIA: + 400 TBD
2021, November, 29, 12:00:00
OIL PRICE: NEAR $76
Brent climbed $3.17, or 4.4%, to $75.89 a barrel, WTI was up $3.35, or 4.9%, at $71.50 a barrel.
OPEC + RUSSIA: + 400 TBD
2021, November, 29, 11:55:00
OPEC+ WARINESS
OPEC+ ministers, led by Saudi Arabia and Russia, are meeting after Dated Brent nosedived 11% on Nov. 26, sending shock waves into the energy market as news of the Omicron variant outbreak led to bans on flights from South Africa.
All Publications »
Tags: ОПЕК, РОССИЯ, OPEC, RUSSIA
Chronicle:
OPEC + RUSSIA: + 400 TBD
2022, January, 26, 12:19:00
TRANSPORTATION OIL AND GAS CONGRESS, 21th-22th of February, 2022
Business and Technical Views On The Market At The Transportation Oil and Gas Congress 2022
OPEC + RUSSIA: + 400 TBD
2022, January, 26, 12:18:00
ГИДРОЭНЕРГЕТИКА ЦЕНТРАЛЬНАЯ АЗИЯ И КАСПИЙ 2022
Инвестиционные проекты строительства и модернизации будут представлены на международном конгрессе и выставке «Гидроэнергетика Центральная Азия и Каспий 2022»
OPEC + RUSSIA: + 400 TBD
2022, January, 26, 12:15:00
HYDROPOWER FOR ECUADOR 2.4 GW $6.7 BLN
The Santiago project would comprise eight power generation units, with 304.10 MW Francis-type turbines and would require US$3bn of private investments for a total budget of US$6.7bn.
OPEC + RUSSIA: + 400 TBD
2022, January, 25, 13:10:00
OIL PRICE: NOT ABOVE $88
Brent rose 61 cents, or 0.7%, to $86.88 a barrel, WTI climbed 44 cents, or 0.5%, to $83.75 a barrel.
OPEC + RUSSIA: + 400 TBD
2022, January, 25, 13:05:00
RUSSIAN SMR NUCLEAR
Small Modular Reactors Day was an international platform for discussing the benefits of Small Modular Reactors, the prospects for their development and how this technology can be applied around the world.
OPEC + RUSSIA: + 400 TBD
2022, January, 25, 13:00:00
U.S. NUCLEAR FOR POLAND
The MoUs - signed in both Gdańsk and Westinghouse's office in Warsaw - include cooperation on the possible construction of six AP1000 plants for the Polish nuclear power plant programme.
OPEC + RUSSIA: + 400 TBD
2022, January, 25, 12:55:00
SPAIN ENERGY PRICES UP
Energy costs drove most of the increase, with a 95.9% jump in December from a year earlier,
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