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!

2022-03-03 14:30:00

OPEC+ 0.4 MBD

OPEC+ 0.4 MBD

OPEC - 02 Mar 2022 - 26th OPEC and non-OPEC Ministerial Meeting concludes

Following the conclusion of the 26th OPEC and non-OPEC Ministerial Meeting, held via videoconference on 2 March 2022, and based on internal consultation held exclusively by the OPEC and participating non-OPEC oil-producing countries in the Declaration of Cooperation of (DoC), it was noted that current oil market fundamentals and the consensus on its outlook pointed to a well-balanced market, and that current volatility is not caused by changes in market fundamentals but by current geopolitical developments.

The OPEC and participating non-OPEC oil-producing countries decided to:

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

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

Reiterate 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 June 2022. Compensation plans should be submitted in accordance with the statement of the 15th Ministerial Meeting.

Hold the 27th OPEC and non-OPEC Ministerial Meeting on 31 March 2022.

 

Production table PDF version


Earlier:

OPEC+ 0.4 MBD
2022, March, 2, 11:45:00
OIL PRICE: ABOVE $111
Brent rose by as much as $8 and touched as high as $113.02 a barrel, before easing to $111.75, WTI were up $7.24, or 7%, to $110.67 a barrel.
OPEC+ 0.4 MBD
2022, March, 2, 11:40:00
OPEC+ OIL PRODUCTION: +0.4 MBD
OPEC+ members are attempting to regain pre-pandemic output levels by late 2022 through their monthly easing of quotas, but potential disruptions to Russian oil flows put that plan at risk.
OPEC+ 0.4 MBD
2022, March, 1, 12:20:00
OIL PRICE: NEAR $100
Brent advanced 1.8% to $99.7, WTI rose 1.6% to $97.28.
OPEC+ 0.4 MBD
2022, February, 21, 11:50:00
GLOBAL ENERGY CRISIS & STABILISATION
In the situation that has obtained in recent months on energy markets, it has become clear that one of the foundations of stability of the modern global world is, in the first instance, reliable energy supply, which cannot be provided without observing a reasonable balance of energy sources and an absence of discrimination against traditional sectors of the fuel and energy complex.
OPEC+ 0.4 MBD
2022, February, 3, 13:45:00
OPEC+ RUSSIA: GROWTH BY 0.4 MBD
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 March 2022.
OPEC+ 0.4 MBD
2022, January, 19, 10:50:00
OIL PRICE WILL BE $100
Global oil demand is seen rising 3.5 million barrels per day (bpd) year-on-year in 2022, with fourth-quarter demand reaching 101.6 million bpd.
OPEC+ 0.4 MBD
2021, December, 27, 11:55:00
OPEC+ SUCCESSFUL BALANCE
With Russia nearing its maximum capacity and Nigeria, Angola and several other countries struggling to maintain output, OPEC+ sustainable spare capacity will shrink to just 1.2 million b/d by June, lessening the group's ability to offset disruptions.
All Publications »
Tags: OPEC, RUSSIA, OIL, PRICE, PRODUCTION
Chronicle:
OPEC+ 0.4 MBD
2022, June, 24, 11:34:00
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+ 0.4 MBD
2022, June, 24, 11:33:00
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+ 0.4 MBD
2022, June, 24, 11:30:00
RUSSIAN OIL PROTECTION
Certification by the Indian Register of Shipping (IRClass), one of the world's top classification companies, provides a final link in the paperwork chain - after insurance coverage - needed to keep state-owned Sovcomflot's tanker fleet afloat and delivering Russian crude oil to overseas markets.
OPEC+ 0.4 MBD
2022, June, 24, 11:20:00
U.S. LNG EXPORTS DOWN BY 17%
Freeport LNG is one of seven LNG export facilities operating in the United States.
OPEC+ 0.4 MBD
2022, June, 24, 11:15:00
ЭНЕРГИЯ РУССКОЙ АРКТИКИ
Обсуждалось строительство газовозов и танкеров-челноков. В частности, 15 газовозов запланированы к постройке на судоверфи «Звезда». В планах – строительство дополнительных судов для транспортировки продукции инвесторов по Севморпути.
OPEC+ 0.4 MBD
2022, June, 24, 11:10:00
U.S. SMR FOR POLAND
Last Energy's SMR technology is based on a pressurised water reactor with a capacity of 20 MWe or 60 MWt.
OPEC+ 0.4 MBD
2022, June, 24, 11:05:00
PAKISTAN ENERGY CRISIS
This is the third time this month that Pakistan failed to complete an LNG tender for July, and the country’s inability to purchase fuel threatens to exacerbate electricity shortages just as hotter weather boosts air conditioning and power demand.
All Publications »