Sunday , January 24 2021

Opaque will declare Kota to reduce crude production in the country: Document

The Organization of the Petroleum Exporting Countries (OPEC) plans to give details of voluntary pump-cut quotas by its related members and manufacturers, such as Russia, who said the Russian manufacturers in an attempt to keep the price shore. Sunday Thursdays

Mohamed Burkindo said that to achieve 1.2 million barrels per day proposed cut, effective reduction for member countries was 3.02%.

Initially, it is more than reducing the discussion of 2.5 percent, because OPEC intends to adjust the situation in Iran, Libya and Venezuela, which is free of any need for cuts.

Burkindo promised to reduce Saudi Arabia's 10.2 million barrels per day from January, which is a cut more than deciding.

Sources initially said that OPEC will not release individual quotas.

Berkindo told OPEC members in the letter, "It is important to make these product arrangements available to the public, in the interest of openness and transparency and to support market trust."

* "I urge you to make a positive announcement to reaffirm your country's commitments with your decision-making decisions on your best consensus. Our commitment to building confidence in our decisions and also from suspicious people can be doubted," he added.

Source link