Riyami said, 'This meeting is an important one as it will be the first JMMC of 2018, paving the way for further cooperation between OPEC
members and participating non-OPEC
nations into 2018.
Minister Del Pino, representing the Venezuelan National Government, continues to deepen oil relations with the OPEC
+) countries and thus guarantee the maximum happiness of the country.
responded with a group production ceiling that was allocated among member countries, and it also sought to coordinate with non-OPEC
nations to try to impose greater stability
Asked about adherence of OPEC
members to the output reduction agreement of November 30, 2016, Zangeneh said that the OPEC
members were fully faithful to it while the non-OPEC
members were almost faithful.
We examine four key questions around OPEC
supply that will be critical for global oil markets this year and find that US production increases are likely to cap oil prices at around $55 while OPEC
production cuts will provide a floor," the bank said.
30 in Vienna, but disagreements persist among OPEC
members and non-OPEC
Russia on the details of the deal.
Na'imi also argued it would have been a mistake for OPEC
to respond to the growth in North American oil production by cutting its own supplies.
last November decided against propping up prices by cutting output, seeking to recover market share taken by higher-cost rival production.
also forecast a recovery in demand next year as economic growth gathers pace.
is pumping enough oil to keep world markets more than satisfied and oil prices have been high largely due to geopolitical risk, the oil producing group said Thursday.
If there is no pressure from outside and external problems are not imposed on this organization, OPEC
members can easily make a decision and reach consensus," Khatibi said.
published its regular monthly Oil Market Report yesterday.