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2022-04-01 11:40:00

OPEC+ 432 TBD

ОПЕК+ 432 ТБД

OPEC - 31 Mar 2022 - 27th OPEC and non-OPEC Ministerial Meeting

Following the conclusion of the 27th OPEC and non-OPEC Ministerial Meeting, held via videoconference on March 31, it was noted that continuing oil market fundamentals and the consensus on the outlook pointed to a well-balanced market, and that current volatility is not caused by fundamentals, but by ongoing geopolitical developments.
The OPEC and participating non-OPEC oil-producing countries decided to:

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

Reconfirm the baseline adjustment, 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 0.432 mb/d for the month of May 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 OPEC and non-OPEC Ministerial Meeting.

Hold the 28th OPEC and non-OPEC Ministerial Meeting on 5 May 2022.

 

Production table PDF version

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Earlier:

ОПЕК+ 432 ТБД
2022, March, 31, 14:10:00
OIL PRICE: BRENT BELOW $107, WTI BELOW $102
Brent fell $4.87, or 4.3%, to $108.58 a barrel, WTI fell $5.90, or 5.5%, to $101.92 a barrel .
ОПЕК+ 432 ТБД
2022, March, 31, 14:05:00
OPEC OIL PRICE: $110.05
the price of OPEC basket of thirteen crudes stood at $110.46 a barrel
ОПЕК+ 432 ТБД
2022, March, 30, 11:00:00
OIL PRICE: BRENT BELOW $113, WTI BELOW $107
Brent were up $2.6, or 2.4% at $112.81, WTI rose $2.7, or 2.5%, to $106.84 a barrel.
ОПЕК+ 432 ТБД
2022, March, 30, 10:55:00
OPEC+ WITHOUT POLICIES
Commenting on the Russia-Ukraine conflict, Saudi Arabia’s Prince Abdulaziz bin Salman said that OPEC puts political differences aside when its ministers meet and OPEC+ is doing the same.
ОПЕК+ 432 ТБД
2022, March, 30, 10:50:00
OPEC+ RUSSIA SUPPLY THE MARKET
Russian deputy prime minister Alexander Novak said March 23 that it was too early to talk about an adjustment to Russia's quota under the agreement, as Russia continues to supply the market.
ОПЕК+ 432 ТБД
2022, March, 29, 13:45:00
OIL PRICE: BRENT BELOW $114, WTI BELOW $107
Brent rose $1.41, or 1.3%, to $113.89 a barrel, WTI was up 95 cents, or 0.9%, at $106.91.
ОПЕК+ 432 ТБД
2022, March, 29, 13:40:00
OPEC OIL PRICE: $113.39
The price of OPEC basket of thirteen crudes stood at $113.39 a barrel on Monday
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