Currency converter
^
News Search Topics
ОК
Use filter
You can filter your feed,
by choosing only interesting
sections.
Loading

Ministerial meeting on oil production monitoring due March 22-23 in Kuwait

February 11, 22:24 UTC+3
The OPEC ministerial control committee was set up to monitor implementation of the agreements on crude production cuts sealed by OPEC and non-OPEC countries
Share
1 pages in this article

SOCHI, February 11. /TASS/. A meeting of the OPEC countries and non-cartel countries, parties to the production cut agreement, is due in Kuwait on March 22-23, Russia's Minister of Energy Alexander Novak told reporters on Saturday.

"The meeting will take place on March 22-23, a meeting of the technical council at the expert level will be in Vienna on February 21-22, the meeting of ministers - in Kuwait," he said.

A ministerial control committee was set up at the Organization of the Petroleum Exporting Countries (OPEC) to monitor implementation of the agreements on crude production cuts sealed by OPEC and non-OPEC countries. The committee brings together five ministers: three are from OPEC countries (Algeria, Kuwait and Venezuela) and two are from non-OPEC countries (Russia and Oman).

On 10 December 2016, OPEC and non-OPEC countries signed an agreement on joint reduction of oil output at a meeting in Vienna. Moreover, 11 countries will join the announced cut by OPEC members of 1.164 mln barrels per day in the first half of 2017, and reduce crude production by another 558,000 barrels per day. Thus, the total crude production cut will amount to 1.7-1.8 mln barrels per day. Russia plans to cut its oil production by 300,000 barrels per day in the first half of the current year.

Show more
Share
In other media
Реклама
Реклама