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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    OPEC is considering the strategy of ending the agreement to reduce oil production

    Rocky
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    • Post n°1

    OPEC is considering the strategy of ending the agreement to reduce oil production Empty OPEC is considering the strategy of ending the agreement to reduce oil production

    Post by Rocky Thu 21 Dec 2017, 2:30 pm

    OPEC is considering the strategy of ending the agreement to reduce oil production





    2017/12/21 18:32

    (Encyclopedia of this Day News | Iraq News ) - Direct: Organization of Petroleum Exporting Countries "OPEC" began working on plans on ending the cut crude production with non - members agreement strategy, according to the news agency "Reuters".


    "A strategic group in Vienna has been assigned to work on a plan that includes several options," Reuters quoted two unnamed OPEC sources as saying on Thursday.


    The sources confirmed that it was still too early to reveal the shape of the plan, while one felt that it would be a continuity strategy rather than exit.


    OPEC and OPEC oil producers have agreed to extend the agreement to cut oil production to 1.8 million barrels per day by the end of next year, and to review the decision at the next meeting of the Organization.


    OPEC is due to hold its next meeting in June 2018.


    By 2:56 pm GMT, NYMEX crude fell 0.7% to $ 57.69 a barrel, while Brent crude fell 0.4% to $ 64.31 a barrel.


    Note: The content of the title (agency: OPEC is considering the strategy of ending the agreement to reduce the production of oil) published first on the site (direct site) and does not bear the encyclopedia of this day news content in any way. 
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    Rocky
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    • Post n°2

    OPEC is considering the strategy of ending the agreement to reduce oil production Empty OPEC begins work on exit strategy from cut production agreement

    Post by Rocky Fri 22 Dec 2017, 11:56 am

    [size=30]OPEC begins work on exit strategy from cut production agreement[/size]
    22/12/2017 07:29 | Number of readings:
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    OPEC is considering the strategy of ending the agreement to reduce oil production Thumbnail.php?file=BN_PZ155_0926cm_GR_20160926000446_329026038
    Trend Press / Agencies
    The Organization of the Petroleum Exporting Countries (OPEC) has begun work on plans for an "exit strategy" from an agreement to cut oil production with independent producers, a sign that the end of the agreement looms for producers, at least in theory.
     
    On November 30, OPEC, Russia and other producers agreed to extend the production cut-off agreement until the end of 2018 to absorb the oil market's oversupply. But the market is increasingly interested in how producers get out of the deal if the fading is lost.
     
    The sources said that the General Secretariat of the "OPEC" in Vienna is working on a plan containing multiple options, and it is now too early to talk about what will look like that plan. "It's a continuity strategy, not an exit," one said.
     
    Oil rose this year and is trading near $ 64 a barrel, nearing its highest level since 2015, supported by OPEC-led efforts. That's above the $ 60 minimum that sources say the organization wants to see in 2018.

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