(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 4 . The overall crude oil
production level for both OPEC and non-OPEC Participating Countries
in the DoC will be set at 40.46 million barrels per day from
January 1, 2024, until December 31, 2024, trend reports.
As the statement of the block, following the 35th Ministerial
Meeting said, By the end of June 2024, an evaluation will be
conducted on all OPEC and non-OPEC Participating Countries in the
Declaration of Cooperation.
This assessment will be carried out by three independent
sources, namely IHS, Wood Mackenzie, and Rystad Energy, who
specialize in oil upstream sources. The purpose of this evaluation
is to determine each country's production capacities, which will
serve as the basis for establishing the reference production levels
for the year 2025.
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