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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


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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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An expected decision for OPEC + after the meeting of Iraq and Saudi Arabia

rocky
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An expected decision for OPEC + after the meeting of Iraq and Saudi Arabia Empty An expected decision for OPEC + after the meeting of Iraq and Saudi Arabia

Post by rocky Wed 30 Nov 2022, 5:44 am

An expected decision for OPEC + after the meeting of Iraq and Saudi Arabia

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Economy News _ Baghdad
Sources in OPEC + suggested, today, Wednesday, that the organization will keep the oil production policy unchanged in the meeting next Sunday, after the meeting of the Saudi and Iraqi energy ministers at the end of last week, who stressed the importance of adhering to production cuts that will continue until the end of 2023.
According to OPEC sources, additional production cuts are also likely to be considered to boost prices, which have fallen due to fears of an economic slowdown.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, known as OPEC+, meet as demand faces headwinds from slowing economies and China's COVID-19 lockdown, while an EU ban on Russian crude imports looms. A ceiling on G7 prices for Russian oil places is a question mark on supply.
Oil prices, after nearing an all-time high of $147 a barrel in March, were pushed lower by the conflict in Ukraine.
In October, OPEC+ agreed to cut production by 2 million barrels per day - equivalent to 2% of global supply - causing one of its biggest clashes with the West as the US administration called the abrupt decision short-sighted.
Saudi Arabia, OPEC's largest exporter, said on November 21 that OPEC+ was committed to production cuts and could take further measures to balance the market.
Saudi Energy Minister Abdulaziz bin Salman, Saudi Energy Minister Prince Abdulaziz bin Salman, said: “The current cut of two million barrels per day by OPEC + will continue until the end of 2023, and if further measures are needed through production cuts to balance supply and demand, We are always ready to step in."
The official Saudi Press Agency quoted the Saudi Press Agency as saying on November 21.
And the Saudi Ministry of Energy had said in a statement on Friday that the Saudi and Iraqi energy ministers met on Thursday and stressed the importance of adhering to the OPEC + production cuts, which will continue until the end of 2023.
 


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Added 11/30/2022 - 9:09 AM
Updated 11/30/2022 - 2:34 PM


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