#OPECmeetingupdates#

#OPECmeetingupdates#

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OPEC meetings discuss a range of topics regarding energy markets and agree on how much oil they will produce.

World Crude Oil Production (1960 to 2019)

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)

The price of OPEC basket crudes so far this month stand at $48.25 a barrel, compared with $42.61 the previous month. Over the last twelve months the price has fallen 27.42%. The OPEC Basket, is a weighted average of prices for petroleum blends produced by OPEC countries members. It is used as an important benchmark for crude oil prices.

What Countries are Part of OPEC?

OPEC Meeting News & Updates

(BLOOMBERG) World Economies Watch OPEC for Hints at Production. - Jan 6, 2021.[[1,#CoronavirusVaccine#,10004236]] [[1,#CrudeOil#,60001342]][[1,#marketoutlook2021#,10004382]][[1,#OPECmeetingupdates#,80004419]]

(BLOOMBERG) World Economies Watch OPEC for Hints at Production. - Jan 6, 2021.#CoronavirusVaccine# #CrudeOil##marketoutlook2021##OPECmeetingupdates#

NEWSVID
(BLOOMBERG) Oil Soars As Saudis, Russians Make Deal. - Jan 6, 2021.[[1,#OPEC+CutProduction#,10001707]][[1,#oilprice#,10004304]][[1,#SaudiOilPriceWar#,10001551]][[1,#CrudeOil#,60001342]] [[1,#OPECmeetingupdates#,80004419]]

(BLOOMBERG) Oil Soars As Saudis, Russians Make Deal. - Jan 6, 2021.#OPEC+CutProduction##oilprice##SaudiOilPriceWar##CrudeOil# #OPECmeetingupdates#

NEWSVID
(BLOOMBERG) Saudis Plan to Make Voluntary Oil-Output Cut in February. - Jan 6, 2021.[[1,#SaudiAramco#,10004300]][[1,#CrudeOil#,60001342]] [[1,#OPEC+CutProduction#,10001707]][[1,#OPECmeetingupdates#,80004419]]

(BLOOMBERG) Saudis Plan to Make Voluntary Oil-Output Cut in February. - Jan 6, 2021.#SaudiAramco##CrudeOil# #OPEC+CutProduction##OPECmeetingupdates#

NEWSVID

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Oil Prices Latest Analysis

(RECAP) DAILY NOTION - FOLLOWME x TradingCentral - WTI Crude Oil Futures (Feb): Oil Prices are Under Pressure Ahead of API Stockpile Data. - Jan 5, 2021 [[1,#WTICrudeOil#,10004222]][[1,#oilprice#,10004304]][[1,#OPEC#,60001266]][[1,#TradingCentral#,50001098]]

(RECAP) DAILY NOTION - FOLLOWME x TradingCentral - WTI Crude Oil Futures (Feb): Oil Prices are Under Pressure Ahead of API Stockpile Data. - Jan 5, 2021 #WTICrudeOil##oilprice##OPEC##TradingCentral#

(FX STREET) DAILY NOTION - WTI hovers near 10-day SMA, risks skewed to the downside on rising US inventories

(FX STREET) DAILY NOTION - WTI hovers near 10-day SMA, risks skewed to the downside on rising US inventories

Insights Board
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(BLOOMBERG) What's in Store for Oil Prices in 2021? - Jan 5, 2021. #marketoutlook2021##oilprice##OPECmeetingupdates##CrudeOil#
00:05:19
(BLOOMBERG) Oil Soars As Saudis, Russians Make Deal. - Jan 6, 2021.#OPEC+CutProduction##oilprice##SaudiOilPriceWar##CrudeOil# ...
00:07:27
(BLOOMBERG) World Economies Watch OPEC for Hints at Production. - Jan 6, 2021.#CoronavirusVaccine# #CrudeOil##marketoutlook2021#...
00:00:57
(BLOOMBERG) Saudis Plan to Make Voluntary Oil-Output Cut in February. - Jan 6, 2021.#SaudiAramco##CrudeOil# #OPEC+CutProduction#...
00:01:40

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