2022-06-03 13:15:00
OPEC + RUSSIA: +0.648 MBD

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:
- 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.
- 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.
- 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.
- 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.
- Reiterate the critical importance of adhering to full conformity and to the compensation mechanism.
- Hold the 30th OPEC and non-OPEC Ministerial Meeting on 30 June 2022.
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Earlier:

2022, June, 2, 11:55:00
OIL PRICE: BRENT NEAR $116, WTI ABOVE 112
Brent was down $2.07, or 1.8%, at $114.22 a barrel, WTI dropped $2.21, or 1.9%, to $113.05 a barrel.

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,

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

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.

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.

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.

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.
Chronicle:

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

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.

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.

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.

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

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.

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.