#OPECmeetingupdates#

#OPECmeetingupdates#

550 View 66 Discuss
OPEC meetings discuss a range of topics regarding energy markets and agree on how much oil they will produce.
Share your trading experience
post

World Crude Oil Production (2016 to 2021)

In light of the current oil market fundamentals and the outlook for 2021, the OPEC council members agreed in the meeting to reconfirm the existing commitment under the Declaration of Cooperation (DoC) decision on April 12, 2020, then amended in June and September 2020 repeatedly, to gradually return to 2 mb/d, given consideration to market conditions.

Beginning January 2021, DoC participating countries have decided to voluntarily adjust the oil production by 0.5 mb/d from 7.7 mb/d to 7.2 mb/d.

Furthermore, the DoC participating countries agreed to hold monthly OPEC and non-OPEC ministerial meetings starting next year to assess market condition continuously and make decision on further production adjustments for the following month, limited to not higher than 0.5 mb/d.

 

OPEC Reference Basket Price (USD)

In March of 2021, the average price of the OPEC basket so far this month is 63.11$ per barrel, while the price was 61.04$ dollars per barrel in February of 2021. Over the last twelve months, the price has risen 86.11%.

What Countries are Part of OPEC?

OPEC Meeting News & Updates

Oil surges after OPEC+ hold cuts, strong U.S. jobs growth

Reuters

Column: Oil risks overheating after OPEC+ leaves output unchanged

Reuters

WTI at multi-year highs above $66.00 in afterglow of bullish OPEC+ meeting

FXStreet

Oil surges $2 after OPEC+ extends output cuts

Reuters

Canadian Dollar Climbs On Rising Oil Prices After OPEC Decision

RTTNews

More

Oil Prices Latest Analysis

Brent Oil to march forward to $70 as OPEC extends production cuts – ANZ

FXStreet

Oil soars to near 14-month high as OPEC+ extends output cuts into April

Reuters
Oil surged after OPEC meeting

Oil surged after OPEC meeting

FXStreet

Canadian Dollar Climbs On Rising Oil Prices After OPEC Decision

RTTNews

Oil surges $2 after OPEC+ extends output cuts

Reuters

More

Pull-up Update

CFD markets involves substantial risk and there is always the potential for loss. Past performance is not indicative of future results. You understand and agree that there are risks associated with the use of online trading services ( COPYTRADE、FOLLOWTRADE、FOLLOWGUARD ), including uncontrollable factors such as hardware breakdown, software fault, or Internet disconnections. FOLLOWME does not held any responsibility for the communication failures, miss-transmissions or delays that occur during online trading.

appstore-download goole-download
login