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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    OPEC+ meeting amid complaints about oil prices, Russian and Kazakh supply concerns

    Rocky
    Rocky
    Rocky
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    Posts : 278405
    Join date : 2012-12-21
    • Post n°1

    OPEC+ meeting amid complaints about oil prices, Russian and Kazakh supply concerns Empty OPEC+ meeting amid complaints about oil prices, Russian and Kazakh supply concerns

    Post by Rocky Wed 30 Mar 2022, 5:38 am

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    • WED, 03-30-2022,PM 12:12
       
    • KARAR AL ASADI


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    Saudi Arabia, the United Arab Emirates and Iraq said that OPEC and its allies still dominate the oil market, as the organization prepares to meet to decide on production levels in May, amid anger from oil importing countries over supply shortages and high fuel prices.
    However, ahead of the March 31 meeting, OPEC+ officials strongly indicated that the alliance is not ready to go beyond the steady monthly increases that have been implemented since last August.
    “We are experts in our field and have been doing this for a long time,” UAE Energy Minister Suhail Al Mazrouei said at the Atlantic Council’s Global Energy Forum in Dubai. “We are trying to balance the market and it is not an easy task. We know from experience, so trust us."
    The monthly increases in production quotas were 400,000 barrels per day, but it is set to rise slightly with the upward adjustments to the basic production levels of Saudi Arabia, Russia, Iraq, the United Arab Emirates and Kuwait which are due to come into effect from May.
    Fatih Birol, executive director of the International Energy Agency, said the market was "really disappointed" by the alliance's lack of urgency to moderate the market and that OPEC+ countries were reducing production to their production targets. The International Energy Agency estimates that the global market is facing an estimated deficit of 2.5 million barrels per day as a result of the war.
    This comes despite urgent calls from energy consumers for producers to release more oil into the market.
    OPEC + countries contributed to the tightening of the market, with many members reducing their quota production, collectively, the group fell 1.053 million barrels per day less than its targets in February.
    A delegate-level advisory committee will meet today to assess market conditions and compliance with member quotas.
    Russian and Ukrainian officials began peace talks on March 29. These talks could have a significant impact on prices if progress is made and concerns about Russia's ability to supply global markets subside.
    Kazakhstan expects a significant drop in production in April after damage to loading facilities at the port of Novorossiysk. The Kazakh Energy Ministry said on March 29 that the accident could lead to the removal of 320,000 barrels per day of Kazakhstan's production from the market in April, while maintenance work is being carried out.
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    Rocky
    Rocky
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    • Post n°2

    OPEC+ meeting amid complaints about oil prices, Russian and Kazakh supply concerns Empty OPEC+ meeting amid complaints about oil prices, Russian and Kazakh supply concerns

    Post by Rocky Wed 30 Mar 2022, 6:05 am

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    OPEC+ meeting amid complaints about oil prices, Russian and Kazakh supply concerns



    Shafaq News/ The Kingdom of Saudi Arabia, the United Arab Emirates and Iraq said that OPEC and its allies still tightly control the oil market, while the organization is preparing to meet to take a decision on production levels in May, amid anger from oil importing countries over the lack of supplies and high fuel prices.
    However, ahead of the March 31 meeting, OPEC+ officials strongly indicated that the alliance is not ready to go beyond the steady monthly increases that have been implemented since August.
    “We are experts in our field and have been doing this for a long time,” UAE Energy Minister Suhail Al Mazrouei said at the Atlantic Council’s Global Energy Forum in Dubai. “We are trying to balance the market and it is not an easy task. We know from experience, so trust us."
    The monthly increases in production quotas were 400,000 barrels per day, but it is set to rise slightly with the upward adjustments to the basic production levels of Saudi Arabia, Russia, Iraq, the United Arab Emirates and Kuwait which are due to come into effect from May.
    Fatih Birol, executive director of the International Energy Agency, said the market was "really disappointed" by the alliance's lack of urgency to moderate the market and that OPEC+ countries were reducing production to their production targets. The International Energy Agency estimates that the global market is facing an estimated deficit of 2.5 million barrels per day as a result of the war.
    This comes despite urgent calls from energy consumers for producers to release more oil into the market.
    The OPEC+ countries contributed to the tightening of the market, with many members reducing their quota production, collectively, the group fell 1.053 million barrels per day less than its targets in February.
    A delegate-level advisory committee will meet on March 30 to assess market conditions and compliance with member quotas.
    Russian and Ukrainian officials began peace talks on March 29. These talks could have a significant impact on prices if progress is made and concerns about Russia's ability to supply global markets subside.
    Kazakhstan expects a significant drop in production in April after damage to loading facilities at the port of Novorossiysk. The Kazakh Energy Ministry said on March 29 that the accident could lead to the removal of 320,000 barrels per day of Kazakhstan's production from the market in April, while maintenance work is being carried out.
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