The OPEC + Technical Committee suggested that the ministers consider delaying the growth of oil production by 3-6 months. - MASS MEDIA
02:41 19.11.2020 4209
On Tuesday, the ministers of the OPEC + monitoring committee will consider the prospects for the oil market and the possibility of postponing the planned increase in oil production by 2 million barrels per day from 2021 for 3-6 months, INTERFAX reports.
Experts of the OPEC + technical committee at a meeting on Monday suggested that ministers consider the possibility of not increasing oil production, as it is expected from January 2021, but postponing the increase by 3-6 months, Bloomberg writes, citing unnamed delegates.
Experts see risks for the oil market as the recovery is slower than expected.
The countries of OPEC and non-OPEC in April of this year decided on an unprecedented agreed reduction in oil production after a quarter of oil demand fell due to the COVID-19 pandemic.
The decision was taken immediately for two years, but with a gradual increase in production. So, if in May-June the reduction was supposed to be 9.7 million barrels per day to the level of October 2018 (while for Russia and Saudi Arabia separate reference bases were adopted - 11 million b / d), then from July it was assumed by 2 million b / d (this increase was postponed to August), and from January 2021 - by another 2 million b / d, keeping this level until May 2022.
Delegation of Azerbaijan Discusses Issues of Bilateral Cooperation Development at the Ministry of Foreign Affairs of Turkmenistan
Issues of developing the bilateral cooperation were discussed on Wednesday, at a meeting between the Minister of Foreign Affairs of Turkmenistan Rashid Meredov and a delegation of Azerbaijan, headed by the Minister of Economy Mikayil Jabbarov, which had arrived on a visit to Turkmenistan, as reported on the website of the Ministry of Foreign Affairs of Turkmenistan.
The Minister of Economy of Azerbaijan Discusses Bilateral Cooperation Expansion Issues with the Leadership of the Fuel and Energy Complex of Turkmenistan
On Wednesday, the Government of Turkmenistan held negotiations on expanding the Turkmen-Azerbaijani cooperation in the oil and gas sector with the Minister of Economy of Azerbaijan Mikayil Jabbarov, who is visiting Ashgabat at the head of the Azerbaijani delegation.
Fuel and energy complex enterprises took part in the second virtual exhibition, which opened in honor of the Day of Neutrality of Turkmenistan
On the eve of the Day of Neutrality of Turkmenistan, the second virtual exhibition of the economic achievements of our country was opened on Thursday. The exhibition is organized by the Chamber of Commerce and Industry in partnership with ministries and departments, private enterprises of Turkmenistan.
The President of Turkmenistan Discusses Interstate Cooperation Issues with the Minister of Economy of Azerbaijan
Topical issues of interstate trade and economic cooperation were discussed on Wednesday, at a meeting between the President of Turkmenistan Serdar Berdimuhamedov and the Minister of Economy of Azerbaijan Mikayil Jabbarov, who is on a visit to Turkmenistan.
New technologies make work at gas stations more comfortable
Employees of the Gubadag Oil Enterprise of the Main Directorate of «Turkmennebitonumleri» for 11 months of this year have demonstrated effective results of their activities. After major reconstruction, a filling station No. 170 was put into operation, located in the eastern part of the Gubadag-Dashoguz highway.