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 ...

Shipments in the first two weeks of the month were 4.05 million bpd, the highest since November 2016.
Iraq exported oil at the fastest pace since late 2016 during...
Investment in new conventional capacity is set to plunge in 2018 to about one-third of the total.
As the world’s energy sector moves toward greater...
Iran's June Onshore Oil Stocks Up 3.2m Barrels
Iran’s onshore oil stocks rose 3.2 million barrels in June...
Oil Prices Fall on Rise in US Stocks
Oil prices fell on Wednesday after news of a rise in US crude...
India Faces Iran Dilemma
The US embargo on Iran's oil shipments has put Indian Prime...
Power Supply to Iraq Cut  Over Rising Domestic Demand
Energy Minister Reza Ardakanian said on Tuesday Iran has cut...
Petrochem Company Indigenizes Equipment
In spite of international restrictions on accessing cutting-...
Gas Consumption Rising
Iran’s daily gas consumption hit 521 million cubic meters on...

Trending

Googleplus