OPEC non-OPEC agreement
Sunday, 23rd September 2018
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.
Wednesday, 12th September 2018
Russian energy minister Alexander Novak has expressed confidence that the OPEC-led group of crude exporters are capable of covering potential supply shortages.
Tuesday, 28th August 2018
Signatories to the OPEC non-OPEC supply cut agreement reduced production in July by 9% more than agreed, according to an official committee.
Monday, 2nd July 2018
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.
Tuesday, 26th June 2018
Saudi Aramco has 2 million barrels per day (b/d) in spare capacity, double the expected OPEC-sanctioned increase in production.
Sunday, 24th June 2018
OPEC has agreed with Russia and other non-OPEC producers to raise oil production from July.
Thursday, 21st June 2018
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.
Wednesday, 20th June 2018
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 production cuts.
Tuesday, 19th June 2018
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.
Thursday, 26th April 2018
An extension to the oil production cuts will not be necessary if crude prices continue to rise, Iranian Oil Minister Bijan Zanganeh has said.