Latest topics
Sources: OPEC may reconsider the cut production agreement
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Sources: OPEC may reconsider the cut production agreement
Sources: OPEC may reconsider the cut production agreement
2019/3/28 23:20
(Reuters) Sources close to the OPEC + negotiations said the group could consider extending the oil production cutoff agreement for three months instead of six months (until the end of 2019) in June.
Reuters quoted three sources as saying the reason for the change in duration was to doubt Russia's position on the issue.
According to one source, "we can extend a three-month period at the June meeting, and then we will see whether it is necessary to extend this period later."
In particular, Russian energy minister Alexander Novak told his Saudi counterpart Khalid al-Faleh during talks in the Azerbaijani capital of Baku in March that "he can not guarantee the extension of the agreement until the end of 2019."
OPEC and a number of non-OPEC countries decided at the end of 2018 to update the terms of the oil production reduction agreement, which has been in force since the beginning of 2017.
Under the agreement, the signatories agreed to cut their production by 1.2 million barrels per day October 2018 level, of which 228 thousand barrels from Russia.
The new agreement is being prepared until the first half of 2019. In this case, the organization recognizes the possibility of extending the agreement for the second half of 2019.
But Novak and al-Faleh said at a meeting of OPEC's ministerial monitoring committee in March that the issue should be postponed until June, While continuing to monitor the market.
The two ministers noted that at the moment there is no point in rushing to make a concrete decision. Unexpected events in the coming months are very possible, mainly related to US sanctions against Iran and Venezuela.
http://alforatnews.com/modules/news/article.php?storyid=193390
2019/3/28 23:20
(Reuters) Sources close to the OPEC + negotiations said the group could consider extending the oil production cutoff agreement for three months instead of six months (until the end of 2019) in June.
Reuters quoted three sources as saying the reason for the change in duration was to doubt Russia's position on the issue.
According to one source, "we can extend a three-month period at the June meeting, and then we will see whether it is necessary to extend this period later."
In particular, Russian energy minister Alexander Novak told his Saudi counterpart Khalid al-Faleh during talks in the Azerbaijani capital of Baku in March that "he can not guarantee the extension of the agreement until the end of 2019."
OPEC and a number of non-OPEC countries decided at the end of 2018 to update the terms of the oil production reduction agreement, which has been in force since the beginning of 2017.
Under the agreement, the signatories agreed to cut their production by 1.2 million barrels per day October 2018 level, of which 228 thousand barrels from Russia.
The new agreement is being prepared until the first half of 2019. In this case, the organization recognizes the possibility of extending the agreement for the second half of 2019.
But Novak and al-Faleh said at a meeting of OPEC's ministerial monitoring committee in March that the issue should be postponed until June, While continuing to monitor the market.
The two ministers noted that at the moment there is no point in rushing to make a concrete decision. Unexpected events in the coming months are very possible, mainly related to US sanctions against Iran and Venezuela.
http://alforatnews.com/modules/news/article.php?storyid=193390
*****************
>>>TNTBS's YouTube Channel<<<
RamblerNash- GURU HUNTER
- Posts : 24270
Join date : 2015-02-19
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Wed Mar 27, 2024 6:02 am by Ditartyn
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Mar 23, 2024 9:25 am by swizzlestick
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej
» Almost to the end The goodguys are winning
Mon Jan 22, 2024 9:03 pm by kenlej
» Dinar Daily Facebook Page
Mon Jan 22, 2024 3:34 pm by Ponee
» The Fundamentals of Finance and Pimpy Live
Thu Jan 18, 2024 7:17 am by Dinarhater
» Why Won't the Iraqi Dinar Scam Die?
Wed Jan 17, 2024 5:19 pm by RamblerNash