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Source: OPEC + extends the agreement on production restrictions despite the objection of the UAE
- Time : 07/02/2021 23:59:00
- Reading: 156 times
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{Economic: Al Furat News} A source in “OPEC +” confirmed that the group agreed to put more oil on the market and extend the production restrictions agreement, despite the UAE’s opposition.
The useful summary.. In important news, you can find it in the Euphrates News channel on the telegram.. [You must be registered and logged in to see this link.]
He pointed out that "all (OPEC +) agreements require unanimous approval, which means that the rare development today indicates that the UAE can still derail the plan." It was not immediately clear how the new plan would be implemented.
He added, "The UAE said that the extension was conditional on reviewing its baseline, which is the level of production on which the cuts are calculated."
Under the new agreement, "OPEC will raise production from next August, and extend the production agreement until the end of 2022."
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{Economic: Al Furat News} A source in “OPEC +” confirmed that the group agreed to put more oil on the market and extend the production restrictions agreement, despite the UAE’s opposition.
The useful summary.. In important news, you can find it in the Euphrates News channel on the telegram.. [You must be registered and logged in to see this link.]
He pointed out that "all (OPEC +) agreements require unanimous approval, which means that the rare development today indicates that the UAE can still derail the plan." It was not immediately clear how the new plan would be implemented.
He added, "The UAE said that the extension was conditional on reviewing its baseline, which is the level of production on which the cuts are calculated."
Under the new agreement, "OPEC will raise production from next August, and extend the production agreement until the end of 2022."
[You must be registered and logged in to see this link.]
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