30587
OPEC  Long-Term Strategy Delayed
Energy

OPEC Long-Term Strategy Delayed

OPEC’s board of governors was unable to agree on the group’s long-term strategy and will not present it to oil ministers when they meet on Dec. 4 in Vienna, two OPEC delegates with knowledge of the matter said. Approval of the plan is delayed until at least the next meeting of the board of governors in 2016, said the delegates, who asked not to be identified because the plan is not public. Calls to the headquarters of the Organization of Petroleum Exporting Countries in Vienna were not immediately answered, Bloomberg reported. Governors of the 12-member group could not agree on the final draft of the plan at a meeting in Vienna earlier this month, the delegates said. The governors disagreed on clauses suggested by some members, including about curtailing output, setting production quotas and finding ways to maximize OPEC profit, according to the delegates. OPEC ministers are to meet on Dec. 4 to assess the oil market and the group’s output policy. Iran has asked OPEC to accommodate its planned production increase once sanctions are lifted.

 

Short URL : http://goo.gl/KsIIMN
  1. http://goo.gl/tmRFZO
  • http://goo.gl/w6VEyS
  • http://goo.gl/mvBlen
  • http://goo.gl/e3iMf6
  • http://goo.gl/qgEw6W

You can also read ...

Swap operations resumed earlier this month after a seven-year break.
Iran is ready to ramp up oil swap capacity after receiving the...
Iran is pinning hopes on the investment and know-how of foreign oil companies to enhance extraction rates.
The National Iranian Drilling Company has completed drilling...
Chinese Refinery Blaze Extinguished
A fire that broke out on Thursday at state oil major...
Pertamina Reiterates Interest in Khuzestan Oilfields
The chief executive officer of Indonesia's state-owned oil and...
Citi Forecasts $40-60 Crude for Next 5 Years
Citibank's commodities research team has tempered its outlook...
GE to Help Develop Biggest Wind Farm in Australia
GE has announced that it has entered into an agreement with...
Tavanir Urges Prudent Power Consumption
Hardwiring the culture of judicious electricity consumption in...
Major Gas Pipeline Launch in December
The construction of the 6th Iran Gas Trunkline (IGAT-6)–a...

Trending

Googleplus