[ad_1] Baku has welcomed OPEC+ Declaration of Cooperation, which provides for the 7,000 barrels increase in daily oil production by Azerbaijan starting October this year, Report informs, citing the Ministry of Energy. At its 20th session of ministers, OPEC+ decided to increase oil output by 400,000 barrels from October, as envisaged in the July Declaration… Continue reading Azerbaijan supports OPEC+ decision | Report.az
Tag: OPEC
OPEC + ministerial meeting to be held today
[ad_1] The ministerial meeting of the OPEC + countries, canceled in early July, will be held today at 14:00 (GMT +4), Report informs. The meeting will be held in the video conference format. Thus, the OPEC secretariat confirmed that the agreements within the alliance allow for a meeting on July 18. According to them, the… Continue reading OPEC + ministerial meeting to be held today
OPEC+ may hold ministerial meeting on July 18
[ad_1] The OPEC+ countries are discussing holding ministerial meeting on Sunday, July 18, as the main differences between the allies have already been settled, two OPEC sources told TASS, Report informs. “The meeting is highly likely to be held tomorrow. We are now awaiting official confirmation,” one of the sources told TASS. Another source confirmed… Continue reading OPEC+ may hold ministerial meeting on July 18
OPEC raises forecast on Azerbaijan’s oil production
[ad_1] The Organization of the Petroleum Exporting Countries (OPEC) has increased its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2021 and 2022 by 0.04 and 0.03 million barrels, respectively, Report informs, citing the organization’s July report. According to the document, liquid hydrocarbon production in Azerbaijan is expected… Continue reading OPEC raises forecast on Azerbaijan’s oil production
Azerbaijan fulfills commitments under OPEC+ deal in June
[ad_1] Azerbaijan fulfilled its commitments under the OPEC+ deal in June 2021. The volume of oil production (including condensate) in the country amounted to 705,100 barrels, Report informs referring to the Azerbaijani Energy Ministry. Of this production volume, 610,000 barrels account for crude oil and 95,100 barrels for condensate. “By producing 610,000 barrels of oil… Continue reading Azerbaijan fulfills commitments under OPEC+ deal in June
Saudi Arabia expects next OPEC+ meeting in August
[ad_1] Saudi Arabia’s oil minister Abdulaziz bin Salman has conceded the OPEC+ coalition’s next meeting could take place no sooner than August, as an ongoing clash with the UAE stalls the group’s output policy past July, Report informs referring to Argus media. In a CNBC interview, the minister said he was unaware of any negotiations… Continue reading Saudi Arabia expects next OPEC+ meeting in August
Biden administration pushes for ‘compromise solution’ in OPEC+ talks
[ad_1] The Biden administration is pushing for a “compromise solution” in stalled OPEC+ oil output talks, a White House spokesperson said on July 5, Report informs referring to Investing.com. OPEC+ ministers called off those talks on July 5 after the United Arab Emirates rejected a proposed eight-month extension to curbs on output. Four OPEC+ sources… Continue reading Biden administration pushes for ‘compromise solution’ in OPEC+ talks
OPEC + meeting may take place later this week
[ad_1] Informal negotiations between the parties of the OPEC + deal continue, and a meeting of the cartel may take place at the end of the week, a source in an OPEC delegation told RIA Novosti, Report informs. “They (informal negotiations) have not stopped. As for the meeting, the participants favor the early resumption of… Continue reading OPEC + meeting may take place later this week
Oil getting slightly cheaper in anticipation of news from OPEC+
[ad_1] Global oil prices fell slightly on July 5 morning in anticipation of the third round of OPEC+ talks on the fate of the production cut agreement, Report informs referring to Prime agency. As of 8:39 (GMT+4), the price of September futures for the North Sea Brent oil blend decreased by 0.13 percent to $76.07,… Continue reading Oil getting slightly cheaper in anticipation of news from OPEC+
Oil prices fluctuate in anticipation of OPEC+ decisions
[ad_1] Global oil prices on July 2 morning are fluctuating around the July 1 closing level, investors are awaiting the decisions of the OPEC+ alliance, according to trading data, Report informs. As of 8:56 (GMT+4), the price of September futures for the North Sea Brent crude oil blend decreased by 0.09 percent – to $75.77,… Continue reading Oil prices fluctuate in anticipation of OPEC+ decisions