Saudi Arabia: OPEC+ mulls oil output cut by 0.5Ц1.5 mln bpd - All News - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Saudi Arabia: OPEC+ mulls oil output cut by 0.5Ц1.5 mln bpd

VIENNA, Dec 6 (PRIME) -- OPEC and non-OPEC states are discussing cutting oil production by 0.5Ц1.5 million barrels per day, Energy Minister Khalid Al-Falih told reporters on Thursday.

УIТve heard many (proposals on OPEC+ oil production cut in 2019): from 500,000 to 1.5 million barrels per day,Ф Al-Falih said.

The reduction should be significant, but not very big, and a cut by 1 million barrels per day would be a proper volume, he said.

There is no agreement on the level of oil production in 2019 yet, he added. УNot yet, only various proposals from various state members. We hope we will have something by the end of tomorrow.Ф

Venezuelan Oil Minister Manuel Quevedo said that exception for Venezuela, which currently produces 1.6 million barrels of oil per day, from the OPEC+ deal will be discussed.

Iranian Oil Minister Bijan Zanganeh said Iran hopes that OPEC+ states will understand exception for Iran from the deal.

In November 2016, OPEC and non-OPEC states including Russia agreed to reduce their oil production to rebalance the market. In 2017, the deal was prolonged until the end of 2018. In June, the participants decided to raise the output by 1 million barrels of oil per day due to a favorable market environment.

End

06.12.2018 13:37
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 75.6197 -0.0878 12 dec
USD 66.5022 +0.2606 12 dec
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1134.60 -0.17 18:40 11 dec
micex 2393.62 -0.13 18:40 11 dec
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 158.04 -1.84 18:28 11 dec
lkoh 5251.00 +1.50 18:28 11 dec
rosn 426.20 -0.54 18:28 11 dec
sber 192.80 +0.52 18:28 11 dec
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 75.4450 -0.3150 14:59 11 dec
USDTD 66.4250 -0.0175 17:44 11 dec