Gulf Oil and Gas accountACCOUNT

OPEC & Non-OPEC Committed to Restore Market Stability

Source: www.gulfoilandgas.com 4/20/2017, Location: Asia

Share |
OPEC Secretary-General Mohammad Barkindo said that all oil producers taking part in a supply-cut pact are committed to bringing global inventories down to the industryís five year average and restoring stability to the market.

Barkindo, speaking in the United Arab Emirates, said compliance data in March is showing better conformity by the oil producers with the agreement than in February.

OPEC and non-OPEC producers agreed in December to cut supplies for six months, helping lift oil prices to about $55 a barrel after a two-year slump. OPEC will review policy for the second half of this year at a May 25 meeting.

Barkindo would not say whether the agreement will be extended for another six months, but that any decision taken would be in the interest of all producing and consuming countries.

Production News in Iran >>

Egypt >>  4/17/2018 - Eni subsidiary IEOC aims to increase gas production from Egyptís Zohr field to 1.2 billion cubic feet per day (bcf/d) in May, and lift it to 2 bcf/d b...
Russia >>  4/6/2018 - Gazprom Neft has completed its 100th consignment of ARCO oil from its Prirazlomnaya ice-resistant stationary platform, located on the Russian Arctic S...

Argentina >>  4/4/2018 - The state-run energy firms of Chile and Argentina said they had inaugurated a $354 million project to increase production of natural gas off the south...
United States >>  4/4/2018 - Otto Energy Limited (OEL) (Otto) is pleased to provide the following update on the Companyís 50% owned South Marsh Island Block 71 (SM 71) oil project...

Iraq >>  4/3/2018 - ShaMaran Petroleum Corp. reports that recent production in the Atrush field in Kurdistan has been negatively impacted by the accumulation of solids in...
Russia >>  4/3/2018 - Exillon Energy plc ("Exillon Energy", the "Company" or the "Group") (EXI.LN), a London Premium listed oil producer with assets in two oil-rich regions...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

 

Oil & Gas Companies in Iran >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.