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2022-06-03 13:15:00

OPEC + RUSSIA: +0.648 MBD

ОПЕК + РОССИЯ: + 648 ТБД

OPEC Vienna, Austria - 02 Jun 2022 - 29th OPEC and non-OPEC Ministerial Meeting

The 29th OPEC and non-OPEC Ministerial Meeting was held via videoconference on 2 June 2022. The Meeting noted the most recent reopening from lockdowns in major global economic centers. It further noted that global refinery intake is expected to increase after seasonal maintenance. The Meeting highlighted the importance of stable and balanced markets for both crude oil and refined products.

The Meeting therefore resolved to:

  1. Reaffirm 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. Reconfirm 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 July 2022.
  3. Advance the planned overall production adjustment for the month of September and redistribute equally the 0.432 mb/d production increase over the months of July and August 2022. Therefore, July production will be adjusted upward by 0.648 mb/d as per the attached schedule.
  4. Extend the compensation period until the end of December 2022 as requested by some underperforming countries and request that underperforming countries submit their plans by 17 June 2022. Compensation plans should be submitted in accordance with the statement of the 15th OPEC and non-OPEC Ministerial Meeting.
  5. Reiterate the critical importance of adhering to full conformity and to the compensation mechanism.
  6. Hold the 30th OPEC and non-OPEC Ministerial Meeting on 30 June 2022.

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Earlier:

ОПЕК + РОССИЯ: + 648 ТБД
2022, June, 2, 11:55:00
OIL PRICE: BRENT NEAR $116, WTI ABOVE 112
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ОПЕК + РОССИЯ: + 648 ТБД
2022, June, 2, 11:50:00
OPEC OIL PRICE: $122.94
The price of OPEC basket of thirteen crudes stood at $122.94 a barrel on Tuesday,
ОПЕК + РОССИЯ: + 648 ТБД
2022, May, 31, 13:35:00
OPEC OIL PRICE: $120.01
The price of OPEC basket of thirteen crudes stood at $120.01 a barrel on Monday
ОПЕК + РОССИЯ: + 648 ТБД
2022, May, 6, 11:25:00
ОПЕК + РОССИЯ + 432 ТБД
Участники соглашения сохранили в силе достигнутые ранее договорённости о дальнейшем наращивании производства нефти в июне на уровне 432 тыс. баррелей в сутки.
ОПЕК + РОССИЯ: + 648 ТБД
2022, May, 6, 11:20:00
OPEC+ RUSSIA + 0.432 MBD
Reconfirm 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 June 2022, as per the attached schedule.
ОПЕК + РОССИЯ: + 648 ТБД
2022, May, 5, 14:45:00
OPEC+ PRODUCTION +432 TBD
Five OPEC+ delegates said the group was set to agree to increase its June output target by 432,000 barrels per day, in line with its existing plan to unwind output curbs made during the worst of the COVID-19 pandemic in 2020.
ОПЕК + РОССИЯ: + 648 ТБД
2022, April, 1, 11:40:00
OPEC+ 432 TBD
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.
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Tags: OIL, PRICE, OPEC, RUSSIA, ОПЕК, РОССИЯ, НЕФТЬ, ЦЕНА
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ОПЕК + РОССИЯ: + 648 ТБД
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ОПЕК + РОССИЯ: + 648 ТБД
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ОПЕК + РОССИЯ: + 648 ТБД
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