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!

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.

-----


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
2023, January, 25, 10:19:00
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 + RUSSIA: + 400 TBD
2023, January, 25, 10:18:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
OPEC + RUSSIA: + 400 TBD
2023, January, 25, 10:15:00
U.S. POWER GRID PROBLEMS
The significant changing consumption needs and generation patterns are causing significant concerns that existing ageing infrastructure is becoming a major source of risk to power grid safety, reliability and financial exposure and in failing to deliver power on the expected 24 x 7, we need.
OPEC + RUSSIA: + 400 TBD
2023, January, 25, 10:10:00
СПГ КОНГРЕСС РОССИЯ 2023
СПГ Конгресс Россия – это международная инвестиционная площадка, где традиционно собираются лидеры индустрии. Ежегодно в мероприятии принимают участие более 250 операторов крупно-, средне- и малотоннажных СПГ-проектов, водородных проектов, правительство и технологические лидеры СПГ-индустрии.
OPEC + RUSSIA: + 400 TBD
2023, January, 25, 10:05:00
OIL AND GAS AUTOMATION AND DIGITALIZATION 2023
Event Title: Oil and Gas Automation and Digitalization 2023 Conference Date: 03 - 04 May 2023 Event Type: In-Person Event Event Organizer: PTN Events
OPEC + RUSSIA: + 400 TBD
2023, January, 23, 12:40:53
OIL PRICE: BRENT BELOW $88, WTI BELOW $82
Brent was down 11 cents, or 0.1%, to $87.52, WTI fell 8 cents, or 0.1%, to $81.56 a barrel.
OPEC + RUSSIA: + 400 TBD
2023, January, 23, 12:35:00
EUROPEAN GAS PRICES UPDOWN
Dutch front-month futures, were 0.2% lower at €66.80 a megawatt-hour by 8:58 a.m. in Amsterdam, after rising as much as 3.1% earlier.
All Publications »