2023-02-03 11:45:00
OPEC+ WITHOUT CHANGES
OPEC - Vienna, Austria 01 Feb 2023 - The 47th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 01 February 2023.
The Committee reviewed the crude oil production data for the months of November and December 2022 and noted the overall conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC).
The Members of the JMMC reaffirmed their commitment to the DoC which extends to the end of 2023 as agreed in the 33rd OPEC and non-OPEC Ministerial Meeting (ONOMM) on 5th of October 2022, and urged all participating countries to achieve full conformity and adhere to the compensation mechanism.
The Committee thanked the OPEC Secretariat for their contribution to the meeting.
The next meeting of the JMMC (48th) is scheduled for 3 April 2023.
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Earlier:
2023, February, 1, 12:30:00
OIL PRICE: BRENT BELOW $86, WTI NEAR $79
Brent gained 8 cents, or 0.1%, to $85.54 a barrel, WTI rose 20 cents, or 0.2%, to $79.07 a barrel.
2023, February, 1, 12:25:00
GLOBAL OIL MARKET STABILITY
Further development of bilateral cooperation in the political, trade, economic and energy sectors, as well as cooperation within the OPEC Plus group to provide the stability of global oil market were discussed.
2023, January, 30, 11:45:00
OIL PRICE: BRENT NEAR $86, WTI NEAR $79
Brent fell 74 cents, or 0.8%, to $85.92 a barrel , WTI was at $79.07 a barrel, down 61 cents, or 0.8%.
2023, January, 30, 11:35:00
CHOPPY OIL
Start of a new week at the months end has been very rangebound in terms of the price action on the Oil tabs. Previous week has been swings on the #BRENT & #WTI with an average of 3%(+/-) on the Bearish bias majorly as we approach the Globex Open.Asia session will shed light on the weekly movement.
2023, January, 27, 10:15:00
OIL PRICE: BRENT BELOW $88, WTI ABOVE $81
Brent gained 30 cents, or 0.34%, to $87.77 a barrel, WTI rose 34 cents to $81.35 per barrel.
2022, November, 28, 10:20:00
OPEC EVALUATES THE MARKET
OPEC+ agreed on Oct. 5 to slash its production quotas by 2 million b/d starting in November, saying it was a "technical decision" aimed at averting the impact of a potential global recession.
2022, November, 25, 10:55:00
OPEC BALANCES THE MARKET
OPEC producers UAE and Saudi Arabia have denied a media report that suggested OPEC+ members are planning on increasing crude production by 500,000 barrels per day ahead of their next meeting on December 4.
