Source: OPEC+ in talks on output reduction in line with 2016 quotas - Oil & Gas - 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

Source: OPEC+ in talks on output reduction in line with 2016 quotas

MOSCOW, Dec 4 (PRIME) -- The participants of the OPEC plus nonmember oil output reduction agreement are considering reducing production in accordance with the quotas agreed upon in 2016, a source close to the negotiations told PRIME on Tuesday.

УThere are conditions to retain the agreement (the Vienna deal of OPEC and non-member oil producers) with the same levels of output which were agreed upon in 2016Е This means that Russia exceeds its level of 2016 by 457,000 barrels per day,Ф the source said.

In November 2016, OPEC and non-OPEC states agreed to reduce their oil production to rebalance the market. Russia joined the agreement to cut the output by 300,000 barrels daily as compared with the level of October 2016. 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.

President Vladimir Putin said on Monday that Russia and Saudi Arabia had agreed to prolong the deal of OPEC and non-OPEC states to reduce oil production, but had not defined the volumes.

End

04.12.2018 16:45
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 75.3814 -0.0076 18 dec
USD 66.6208 +0.1871 18 dec
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1113.44 -0.27 18:50 17 dec
micex 2359.13 -0.28 18:50 17 dec
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 153.53 -1.20 18:49 17 dec
lkoh 5100.00 0.00 18:49 17 dec
rosn 416.00 -0.48 18:47 17 dec
sber 182.30 -1.42 18:49 17 dec
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 75.4850 +0.4975 14:59 17 dec
USDTD 66.7250 +0.0250 17:44 17 dec