OPEC non-OPEC agreement

OPEC non-OPEC Producers Won’t Increase Oil Output: Sources

A meeting between allied OPEC and non-OPEC oil producers to be held on September 23 will likely not result in any further increase in crude oil production beyond what was agreed in June.

OPEC-led Group Able to Cover Supply Shortage: Russian Energy Minister

Russian energy minister Alexander Novak has expressed confidence that the OPEC-led group of crude exporters are capable of covering potential supply shortages.

OPEC Supply Cuts: Oil Production 9% Lower than Agreed

Signatories to the OPEC non-OPEC supply cut agreement reduced production in July by 9% more than agreed, according to an official committee.

Kuwait Raises Output by 85,000 bpd

Kuwait started raising its oil output by 85,000 barrels per day (b/d) from July 1, in accordance with the recent agreement between OPEC and non-OPEC producers to increase production by 1 million b/d.

Saudi Aramco has 2M b/d in Spare Capacity: CEO

Saudi Aramco has 2 million barrels per day (b/d) in spare capacity, double the expected OPEC-sanctioned increase in production.

OPEC, Russia Agree to Raise Production

OPEC has agreed with Russia and other non-OPEC producers to raise oil production from July.

Oil Falls 2% Ahead of OPEC Meeting

Oil prices fell on June 21 as producers prepared to discuss the lifting of production cuts at the biannual OPEC meeting on June 22 in Vienna.

Iran Rules Out Agreement at OPEC Meeting

The Iranian oil minister has stated that a deal on oil output at the June 22 OPEC meeting in Vienna is unlikely, setting the stage for a clash with Russia and Saudi Arabia, who are pushing to curb the current prod ...

Saudi Arabia, Russia Propose 1.5 M b/d Output Increase: Ecuador Oil Minister

Saudi Arabia and Russia are reportedly seeking a 1.5 million barrel per day (b/d) increase in production from signee countries to the OPEC and non-OPEC agreement.

No Extension Needed on OPEC Cuts if Prices Continue to Rise: Iran

An extension to the oil production cuts will not be necessary if crude prices continue to rise, Iranian Oil Minister Bijan Zanganeh has said.

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