Tag: non-OPEC
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OPEC, non-OPEC countries to increase production by 0.5mb/d in January
The Organisation of Petroleum Exporting Countries (OPEC) and the non-OPEC countries have agreed to increase crude oil production by 0.5 million barrels per day (mb/d) in January. The group reached the agreement at the 13th OPEC and non-OPEC Ministerial Meeting (ONOMM), held via videoconference, on Tuesday in Vienna. The meeting acknowledged the need to gradually…
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Oil output reduction: Russia to create monitoring group
Russia will create a monitoring group to ensure oil output reduction following the newly-clinched output cut pact between Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers, Russian Energy Minister, Alexander Novak, said Sunday. “We will create a monitoring group inside the country at a meeting with our oil companies. The most important thing…