General Agreement among Oil Producers to Extend Output Cuts Deal

Source: KUNA 11/29/2017, Location: Middle East

Kuwait Oil Minister Essam Al-Marzouq said Tuesday a ministerial market monitoring committee would examine oil output levels for October and producers' commitment to production cuts, then refer recommendations to an OPEC meeting.

Ministers from OPEC and non-OPEC will thoroughly discuss whether to extend production cuts or not, said Al-Marzouq, also Minister of Electricity and Water.

Any decision will serve interest of the oil producers and consumer, and maintains oil market stability, Al-Marzouq told KUNA following his arrival in Vienna for the meetings.

He however said there was a general agreement among the 24 signatories to extend the production cut agreement following its expiration end of next March. Al-Marzouq said non-OPEC Russia would join the ministerial meeting.

Meanwhile, Iraqi Oil Minister Jabbar Al-Luaibi told KUNA Baghdad supported the production cut agreement. He said Iraq was satisfied with the current oil prices .


Australia >>  8/12/2022 - Jadestone Energy plc (“Jadestone”, or the “Company”) an independent oil and gas production company focused on the Asia-Pacific region, provides the fo...
Nigeria >>  8/12/2022 - ADM Energy PLC, a natural resources investing company, is pleased to announce the completion of the 17th Lifting ("Lifting") at the Aje Field, part of...

Brazil >>  8/11/2022 - Alvopetro Energy Ltd. announces operating and financial results for the second quarter of 2022 including record funds flow from operations of $12.4 mi...
Iraq >>  8/11/2022 - Genel Energy notes that DNO, as operator of the Tawke PSC (Genel 25% working interest), has issued an update on licence activity

Gross prod...


Colombia >>  8/8/2022 - - Average Total Production of 30,607 BOPD, Highest since Fourth Quarter 2019
- Total Average Production Up 4% from First Quarter 2022 and 33% fr...

Ghana >>  8/8/2022 - Kosmos Energy Ltd. announced its financial and operating results for the second quarter of 2022. For the quarter, the Company generated a net income o...

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  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.