News list for "Production increase plan"
On May 28, sources said that OPEC + has agreed to use the 2025 oil production level as a benchmark for 2027. At the same time, OPEC + will authorize the OPEC Secretariat to develop a mechanism to assess the maximum sustainable capacity of participating countries as a reference for the 2027 production baseline. The next meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC + will be held on November 30. OPEC + will also hold another round of negotiations this Saturday, when an agre...
OPEC + will review production quotas for this year and next online on Wednesday, and eight core members will decide on plans to increase production in July over the weekend. Click to view...
On April 1, sources said that OPEC + ministers will meet on Thursday and may approve a further increase in oil production starting in May. One source said that the meeting will consider plans for some member countries to further cut production to compensate for exceeding their quotas. Two other sources said that OPEC + plans to continue to lift the latest layer of oil production reduction agreements are expected to remain unchanged in May.
Oil prices were "out of danger" with the help of the market saying that OPEC + was hesitant to increase production in April. But Trump's tariff threat still exists, will it become a "time bomb" for the oil market?
Sources: OPEC + has agreed to delay its planned production increase in December by a month.
OPEC + has agreed to delay by a month its planned oil production increase for December, three sources told Reuters on Sunday, as weak demand and rising supplies outside the cartel put downward pressure on the oil market. The OPEC + group of OPEC, Russia and other producers had planned to increase output by 180,000 barrels a day in December. The group had already postponed plans to increase output from October because of falling prices. Last week, sources said weak demand and economic data had ra...
On September 4th, three sources from OPEC + said on Wednesday that OPEC + is discussing delaying next month's production increase plan due to the drop in oil prices to the lowest level in nine months. One of the sources said that OPEC last week seemed ready to increase production by 180,000 barrels per day as planned in October, but the market volatility caused by the shutdown of oil facilities in Libya and the weak demand outlook have raised concerns in the group.
