OPEC+ countries decided to increase oil production quotas in September by 100,000 b/d

17:15 04.08.2022 518

https://oilgas.gov.tm/storage/posts/5241/original-162eb79675102c.jpeg

 OPEC+ ministers decided to increase oil production quotas in September by 100,000 barrels per day, Interfax reported on Wednesday, citing a source in one of the delegations.

 The ministerial meeting was held the day before via videoconference.

 The OPEC+ Ministerial Monitoring Committee recommended increasing oil production quotas in September by 100,000 barrels per day, although prior to its meeting, the main option was to maintain quotas at August levels.

 Thus, in the event of such an increase in the quota, Saudi Arabia will be able to increase production by 25 thousand b/d each, the UAE - by 8 thousand b/d.  These are one of the few OPEC countries that have the capacity to increase oil production.

 As of June, OPEC+ countries are about 2.8 million b/d behind their target production plan.

 After the announcement of the OPEC+ decision, the price of Brent crude fell sharply from $102 per barrel to $96.  At the same time, analysts expect that the organization's plans in the near future will not be strongly influenced by price changes, since despite the agreement reached, the oil cartel may not technically cope with the task of increasing oil production.

Other articles
15f3a1e0230338.jpeg
The results of the development of the fuel and energy complex for January-July of this year were discussed at a government meeting

Last Friday, President Gurbanguly Berdimuhamedov held a meeting of the Cabinet of Ministers via digital video communication, at which the results of the development for seven months of the year of all sectors of the national economy, including the fuel and energy complex of Turkmenistan, were discussed.


160b727d3025a2.jpeg
The head of Turkmenistan stated priorities of cooperation within the CIS

Changing world realities demand from the CIS a timely and adequate response, embedding in new coordinates of interaction. It was stated by the President Gurbanguly Berdimuhamedov in an interview to the International Television and Radio Company «Mir», answering a question about the prospects for Turkmenistan's cooperation within the Commonwealth.


1612c78db50090.png
Gasoline produced by TCOR is among the export transactions on the exchange of Turkmenistan

12 transactions were registered at the State Commodity and Raw Materials Exchange of Turkmenistan last week.


161f374d39b308.jpeg
In the Central building of the oil and gas complex of Turkmenistan a conference was held

On January 26, President Gurbanguly Berdimuhamedov held a working meeting with the participation of the leaders of the financial, economic and oil and gas complexes, at which the tasks for the further economic development of our independent state in 2022, as well as development issues in accordance with the realities of the time of the regions and improving the welfare of the people, were discussed.


15f3a7ca9482ff.jpeg
The industry meeting discussed the results of the fuel and energy complex for 7 months of 2020

Today, on August 17, in the Central building of the oil and gas complex of Turkmenistan, a reporting meeting was held under the chairmanship of Vice-Chairman of the Cabinet of Ministers Myratgeldi Meredov, at which the results of the work of industry enterprises for seven months of 2020, held under the motto "Turkmenistan - Homeland of Neutrality" were discussed.