OPEC+ Countries Agree To Maintain Oil Output Levels
Representatives of seven OPEC+ countries - Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman - held a videoconference meeting on November 1.
According to OPEC, the participating countries, which introduced additional voluntary production adjustments in April and November 2023, reaffirmed their commitment to maintaining stability in the global oil market.
The seven countries also reiterated their collective commitment to fully implementing the obligations set out in the Declaration of Cooperation.
During the meeting, participants reviewed developments in the global oil market and its outlook. They agreed to maintain their December production levels at the same level established for September 2026.
The seven OPEC+ countries will continue holding monthly meetings to assess market conditions. Their next meeting is scheduled for November 29.
The agreed production levels are outlined in the table below.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment