OPEC

NEWS

OPEC daily basket price stood at $34.84 a barrel Thursday, 4 June 2020 05 Jun 2020Vienna, Austria, 5 June 2020--The price of OPEC basket of thirteen crudes stood at $34.84 a barrel on Thursday, compared with $35.46 the previous day, according to OPEC Secretariat calculations. (View Archives).
The 7th Technical Meeting of OPEC and non-OPEC Countries of the DoC convenes via videoconference 04 Jun 2020Vienna, Austria, 4 June 2020--The Technical Meeting of OPEC and non-OPEC Countries participating under the Declaration of Cooperation (DoC) is convening for the 7^th time, via videoconference in Vienna.
OPEC Secretary General holds a bilateral meeting with India’s Minister for Petroleum and Natural Gas 03 Jun 2020Vienna, Austria, 3 June 2020--HE Mohammad Sanusi Barkindo, OPEC Secretary General, held a bilateral meeting with HE Dharmendra Pradhan, India’s Minister for Petroleum and Natural Gas, via videoconference to discuss the importance of the OPEC-India partnership and further ways to strengthen dialogue in the face of current challenges.
The 133rd Meeting of the Economic Commission Board convenes via webinar 03 Jun 2020Vienna, Austria, 3 June 2020--The 133^rd Economic Commission Board (ECB) of OPEC has convened by Webinar in Vienna. The ECB is the economic and technical statutory think-tank of the Organization. It meets routinely before the ordinary Ministerial Conference held biannually in June and December. The Board comprises of the Secretary General as the Chairman and National Representatives as members.
Energy Minister: Alberta reduces oil production by around 1 mb/d, praises OPEC+ agreement 27 May 2020Vienna, Austria, 27 May 2020--The Minister of Energy for Alberta, Canada, HE Sonya Savage, supported the OPEC+ production adjustment agreement in April to battle COVID-19 demand destruction, and added that her province has reduced oil output by about 1 mb/d due to market forces.
OPEC Secretary General welcomes new Venezuelan Minister 27 May 2020Vienna, Austria, 27 May 2020--OPEC Secretary General, HE Mohammad Sanusi Barkindo, and HE Tareck El Aissami, Venezuela’s People's Minister of Petroleum, held a videoconference meeting today to welcome the minister to OPEC and discuss recent oil market developments and the upcoming June ministerial meetings.
Texas Railroad Commissioner: DoC adjustments bring stability to an energy market ‘in drastic need of it’ 26 May 2020Vienna, Austria, 26 May 2020--Ryan Sitton, the Texas Railroad Commissioner who urged his state to adjust oil production, has praised the ‘Declaration of Cooperation’ (DoC) participating countries for their swift efforts to stabilize the global oil market.
Equatorial Guinea fully implements voluntary production adjustment commitments 18 May 2020Vienna, Austria, 18 May 2020--Equatorial Guinea announced that it has fully adjusted its oil production in accordance with its commitment to oil market stability and the agreements reached at the 9^th and 10^th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on 9 and 12 April respectively, via videoconference.
Letter of condolence on the passing of IR Iran’s OPEC Governor 16 May 2020Vienna, Austria, 16 May 2020--OPEC Secretary General, Mohammad Sanusi Barkindo, today sent a letter of condolence to HE Eng. Bijan Namdar Zanganeh, Minister of Petroleum of the Islamic Republic of Iran, following the passing away of Hossein Kazempour Ardebili, the country’s veteran representative to the OPEC Board of Governors.
Algeria fully implements the voluntary adjustment agreement reached in April 15 May 2020Vienna, Austria, 15 May 2020--Algeria has confirmed that it has fully adjusted its oil production as part of its commitment to oil market stability and the agreements reached at the 9^th and 10^th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on 9 and 12 April respectively via videoconference.
Iraq is committed to the production adjustment agreement reached in April – Acting Oil Minister 14 May 2020Vienna, Austria, 14 May 2020--Iraq’s Minister of Finance and Acting Oil Minister, Dr Ali Alawi, emphasised in a statement Iraq’s commitment to the voluntary production adjustment agreement reached at the 9^th and 10^th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on 9 and 12 April respectively via videoconference.
Energy Ministers of Saudi Arabia and the Russian Federation discuss oil market developments 13 May 2020Vienna, Austria, 13 May 2020--HRH Prince Abdul Aziz Bin Salman, Minister of Energy of the Kingdom of Saudi Arabia, and HE Alexander Novak, Minister of Energy of the Russian Federation, held a phone call as part of their regular consultations on oil market developments and issued a joint statement.
Azerbaijan announces major oil production adjustments 01 May 2020Vienna, Austria, 1 May 2020--Azerbaijan’s state oil company SOCAR announces major oil production adjustment plans for 2020, 2021 and 2022 as part of Azerbaijan’s commitments to the voluntary production adjustment agreement reached at the 9^th and 10^th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on the 9^th and 12^th of April respectively via videoconference.
OPEC President calls for full implementation of production adjustment agreement reached in April 01 May 2020Vienna, Austria, 1 May 2020--HE Mohamed Arkab, Algeria’s Minister of Energy and President of the OPEC Conference, has called on OPEC Members and non-OPEC oil producing countries participating in the Declaration of Cooperation to fully implement the agreements reached at the 9^th and 10^th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on 9 and 12 April respectively via videoconference.
OPEC hosts series of energy round table with reputable international institutions 30 Apr 2020The OPEC Secretariat has been hosting a series of energy round tables with select experts from international institutions, the oil industry and the financial community following two Extraordinary OPEC and non-OPEC Ministerial Meetings held via videoconference on 9 and 12 April.