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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's return to 2016 production quotas could mean a 1.2 million b / d cut

rocky
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OPEC's return to 2016 production quotas could mean a 1.2 million b / d cut Empty OPEC's return to 2016 production quotas could mean a 1.2 million b / d cut

Post by rocky Thu 06 Dec 2018, 1:36 am

OPEC's return to 2016 production quotas could mean a 1.2 million b / d cut



OPEC's return to 2016 production quotas could mean a 1.2 million b / d cut 11671

Reuters calculations indicate that if OPEC and its allies, led by Russia, agree to cut oil output next year by returning to the 2016 production quotas, it would imply that OPEC's output cuts alone would not fall below 1.2 million bpd.
The idea was under discussion at meetings of the Organization of Petroleum Exporting Countries (OPEC), Russia and other NATO allies this week, the official TAS news agency quoted an OPEC source as saying.
If the OPEC countries, which pumped in October 2018 amounts above the agreed targets of 2016 to cut production to those levels and kept members who pump less than the quotas allocated to them on their supplies as they are, the total reduction will be 1.2 million barrels per day, according to Reuters calculations Which were based on OPEC figures.


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