-
OPEC and allies target full end to oil production cuts by September 2022, increase supply as prices climb
The Organization of Petroleum Exporting Countries (OPEC) and its non-OPEC allies reached a deal Sunday to phase out 5.8 million barrels per day of oil production cuts by September 2022. Coordinated easing of oil cuts for the group, known as OPEC+, will begin in August, OPEC announced in a statement. Overall production will increase by 400,000 barrels per day on a monthly basis from that point onward. The International Energy Agency estimates a 1.5 million barrel per day shortfall for the second half of this year, indicating a tight market despite the gradual OPEC supply boost. The 19th OPEC and non-OPEC ministerial ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Jul 18, 2021 3:52pm Jul 18, 2021 3:52pm
- Lupin.III
- | Joined May 2021 | Status: Member | 1 Comment
- Comment #2
- Quote
- Jul 18, 2021 6:10pm Jul 18, 2021 6:10pm
- ww3361
- | Joined Jun 2012 | Status: Member | 708 Comments
- Comment #3
- Quote
- Jul 18, 2021 9:50pm Jul 18, 2021 9:50pm
- anubieonly
- Joined Mar 2021 | Status: Hate non sense talk, eat ur own BS | 62 Comments
Hope everyone gets green pips