Tag: OPEC

OPEC meeting kicks off | Report.az

[ad_1] General meeting of the OPEC member states has kicked off through video conferencing, Report informs. Later on, a meeting of the Joint Ministerial Monitoring Committee (JMMC) will be held. At 7:00 p.m. (GMT +4), OPEC+ participating states will hold an online meeting. The meetings will focus on the quota of oil production after July.… Continue reading OPEC meeting kicks off | Report.az

IEA: OPEC countries fulfilled deal by 124%, non-OPEC countries by 94%

[ad_1] The OPEC+ countries participating in the agreement on the oil output cut in May 2021 increased its production by 320,000 barrels per day (bpd), to 40.39 million bpd, mainly due to Saudi Arabia, which compensates for 1 million barrels voluntarily reduced in February within the OPEC+ agreements, Report informs referring to the June report… Continue reading IEA: OPEC countries fulfilled deal by 124%, non-OPEC countries by 94%

Kazakhstan in May slightly deviated from commitments under OPEC+

[ad_1] Kazakhstan slightly deviated in May from its commitments to OPEC+ on oil output, the republic promises to comply with the obligations under the agreement, according to the Kazakh Energy Ministry, Report informs referring to Kazakh media. “According to preliminary data, 7.3 million tons of oil were produced in the Republic of Kazakhstan in May.… Continue reading Kazakhstan in May slightly deviated from commitments under OPEC+

OPEC announces its forecast on Azerbaijan’s oil production 

[ad_1] OPEC has increased its projections on the production of oil and liquid hydrocarbon in Azerbaijan in 2021 by 0.06 million barrels to 0.79 million barrels, up 0.03 million barrels from the indicator of May. Azerbaijan’s liquids supply in April was slightly up month-on-month by 0.01 mb/d to 0.77 mb/d. It is expected to have… Continue reading OPEC announces its forecast on Azerbaijan’s oil production