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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


    The Saudi Energy Minister confirms the continuation of the current “OPEC +” agreement until the end

    Rocky
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    The Saudi Energy Minister confirms the continuation of the current “OPEC +” agreement until the end  Empty The Saudi Energy Minister confirms the continuation of the current “OPEC +” agreement until the end

    Post by Rocky Fri 17 Feb 2023, 4:53 am

    [size=46]The Saudi Energy Minister confirms the continuation of the current “OPEC +” agreement until the end of the year[/size]


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    Economie

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    [size=30]Saudi Energy Minister Abdulaziz bin Salman confirmed that the current “OPEC +” agreement regarding oil production will continue until the end of 2023, pointing out that the alliance cannot increase production based on initial indications of demand only.[/size]
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    In an interview with Energy Aspects, the Saudi minister said, "OPEC + can only change its decisions after making sure that the demand signals are sustainable," adding, "We will not increase production only on initial signs of demand."
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    OPEC raised its forecast for global oil demand growth in 2023 this week on the back of China's easing of anti-coronavirus restrictions.
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    But the Saudi energy minister said, "I can't predict demand, and I will believe demand growth when I see it."
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    "Regardless of the trends that you see, if you take a cautious approach, you should not only see the beginning of a positive trend on the horizon, but make sure that these positive signs for this market can continue," he said.
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    He added, "The Chinese economy is opening up and because of that you will have a request... But we have all gone through cycles of opening and closing, so what are the guarantees (we have), as well as the world, that nothing of what we went through, each of us, every country?"
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    Abdulaziz also said it was still not clear how long the global monetary and fiscal tightening would last.

    "It is not yet certain how much inflation that might come and how central bankers will react to it given their mandate," he added.
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    OPEC +, which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, agreed in October 2022 to reduce oil production targets by two million barrels per day until the end of 2023.
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    OPEC raised its forecast for global oil demand growth in 2023 this week on the back of China's easing of anti-coronavirus restrictions.
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