Mo. Feb 26th, 2024

Argus-Media berichtet:

“Member states of the organization are committed to production rates and to the…quantities of cuts scheduled until the end of 2023,” Abdulghani said after a virtual meeting of Opec ministers.

Ministers of the full Opec+ alliance, which brings together Opec producers and 10 other non-Opec partners including Russia, will meet online today at 13:00 Vienna time (12:00 GMT).

The Opec+ meeting will “involve a review of developments in the oil market and the challenges facing producers, and the reaffirmation of the decision [taken at the last meeting] to reduce production to the prescribed quantities to achieve more stability and balance for the market,” the minister said.

Abdulghani’s comments will have come as a welcome relief to Saudi Arabia and other Opec members after Iraq’s recently elected prime minister Mohammed Shia al-Sudani said in mid-November that he wanted a review of the country’s Opec+ production quota just weeks after Baghdad committed to it at the last Opec+ meeting in early October.

Such requests can run the risk of disrupting unity within Opec+, and need careful managing by the group.

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