OPEC + countries have agreed to increase oil production

News

OPEC + countries have agreed to increase oil production

19.07.2021 News

OPEC + member states have agreed to increase oil production by 400,000 bpd per month from August. This is stated in a press release from OPEC.

It is noted that the OPEC + countries will seek to eliminate the current restrictions in September 2022. Thus in December, 2021 the estimation of the market is given.

Thus, from May 2022 for Saudi Arabia and Russia will increase the base of reduction of oil production from 11 to 11.5 million bpd, for the UAE – from 3.2 to 3.5 million bpd, for Iraq – from 4, 65 to 4.8 million bpd, for Kuwait – from 2.8 to 2.96 million bpd – only 1.63 million bpd.

The basis for the reduction of oil production is a parameter from which for each country is considered the necessary amount of reduction. The above countries will now be able to extract large volumes of oil under the agreement.

The next ministerial meeting will take place on September 1.

Other articles

  • The Cabinet of Ministers denied the statement about toll roads
    News

    The Cabinet of Ministers denied the statement about toll roads

    Infrastructure Minister Oleksandr Kubrak denied his deputy Anna Yurchenko’s statement about toll roads in Ukraine. The day before, she said that six such roads are planned to be built in Ukraine and called the estimated cost of travel on them. “I will explain why this information is not true, and what is really happening,” Kubrak […]

  • McLaren has introduced a new convertible
    News

    McLaren has introduced a new convertible

    The car manufacturer McLaren has introduced a new sports convertible McLaren 765LT Spider. The sports car is equipped with a 4-liter twin V-8 turbo engine with 755 horsepower and 590 Nm of torque. The car accelerates to 96 km / h in 2.7 seconds. The maximum speed reaches 280 km / h. It is reported […]

  • Apple, Microsoft and Alphabet’s profits rose to record highs
    News

    Apple, Microsoft and Alphabet’s profits rose to record highs

    The profits of the American technology companies Apple, Microsoft and Alphabet increased significantly in the second quarter of 2021. This was reported by the BBC. It is noted that Apple’s profits have increased to 21.7 billion US dollars over the past three months amid an increase in purchases of 5G iPhone. Microsoft generated $ 16.5 […]

  • BMW is forced to shut down factories due to a shortage of microchips
    News

    BMW is forced to shut down factories due to a shortage of microchips

    Another plant of the German carmaker BMW has been suspended. Next week, the company’s plant in Regensburg will be temporarily closed due to a shortage of semiconductor microchips, a BMW representative told the industry publication Automobilwoche. The plant will be shut down completely throughout the week. After that, a summer break will begin at the […]

  • The ranking of the best airlines in the world in a pandemic has been announced
    News

    The ranking of the best airlines in the world in a pandemic has been announced

    AirlineRatings.com named Qatar Airways the airline of the year. As reported on Tuesday, July 27, the rating of Top Airlines in the World takes into account flight safety, on-board service, passenger comfort and flight routes, as well as the response of airlines to the COVID-19 coronavirus pandemic. Qatar Airways was recognized as the best airline […]

  • Ukraine has seized international VPN servers
    News

    Ukraine has seized international VPN servers

    The Windscribe privacy tool, based in Canada, failed to encrypt corporate VPN servers recently confiscated by the Ukrainian authorities. The company provides services through the OpenVPN program. The Android app has over 5 million installs, indicating that the user base is probably much larger. “On June 24, 2021, our monitoring systems informed us that two […]

  • The rate of bitcoin has approached 40 thousand dollars
    News

    The rate of bitcoin has approached 40 thousand dollars

    During the trading session on Monday, July 26, bitcoin accelerated growth and traded at $ 39,177 thousand (+ 10.58%). This is evidenced by data from the portal Coindesk. After that, the cryptocurrency rate slowed down and was at $ 38,939 thousand (+ 9.91%), after which it began to move further. Last night the rate of […]

  • Uber buys Transplace, a logistics technology company, for $ 2.25 billion
    News

    Uber buys Transplace, a logistics technology company, for $ 2.25 billion

    Uber has announced an agreement with TPG Capital to acquire Transplace, which provides the widest portfolio of technology services and solutions in the logistics and transportation industry. The estimated amount of the deal is a considerable $ 2.25 billion, but about $ 750 million Uber will pay in the form of its own shares, and […]

Read also

OPEC + countries have agreed to increase oil production
News

Netflix’s future growth will come from India and other major Asian markets

Shares of Netflix fell after the company released a quarterly report on October 20 with only 2.2 million new subscribers. At the same time, over the last week, stock growth has resumed and since the beginning of the year, the share price of Netflix has risen by 59%. The company’s management and analysts cited the […]

Next
OPEC + countries have agreed to increase oil production
News

Prosecutor General considers the case of historical Howard Theatre debts in Washington, DC

 Historic Howard Theatre, which is located in northwest Washington (DC), owed the government more than $ 260,000 over unpaid taxes. Several years ago, the theater had a reconstruction, which cost the sum of $ 29 million. After the reconstruction of the theater, it was opened to the public in 2012. Officials say that the theater […]

Next
OPEC + countries have agreed to increase oil production
News

The major producer of sunflower oil Allseeds challenged in the court the allocation of land in Yuzhny sea port

Allseeds group companies challenged in court the decision of the Vizirskyi village council (Odessa region) on the allocation of land for the berths of the “Energo Products Co., Ltd.” company (Odessa) in the Yuzhny sea port. The Comintern District Court of Odessa region (included in Allseeds Group) decided to suspend the decision on the suit […]

Next
OPEC + countries have agreed to increase oil production
News

Saudi Aramco has stopped investing in a petrochemical complex in China

According to Bloomberg sources, state oil company Saudi Aramco of Saudi Arabia has stopped investing in a project of building oil refinery and petrochemical complex in China, estimated at $ 10 billion. The decision to terminate the investment was made after talks with Chinese partners and it is associated with high uncertainty about the prospects […]

Next
OPEC + countries have agreed to increase oil production
News

Pfizer and BioNTech have created GPS containers to deliver the coronavirus vaccine

Special isothermal containers have been developed for the transportation and storage of the new coronavirus vaccine by the pharmaceutical companies Pfizer and BioNTech. This was announced by Pfizer CEO Albert Burla in an interview with The New York Times on Tuesday, November 17. “These containers are equipped with GPS sensors and thermometers inside so that […]

Next
OPEC + countries have agreed to increase oil production
News

Milkiland enters the markets of the Middle East and China

After the closure of the Russian market, Milkiland  determined priority markets of the European Union, the Middle East and China. CEO of the company Anatoly Yurkevich said it in an interview with “Business.” “We see a very simple way out of this situation: work in the domestic market, beginning to develop and manufacture products for […]

Next
OPEC + countries have agreed to increase oil production
News

The German company Leoni AG will build a second plant in Ukraine

The German company Leoni AG will build a plant in Kolomyja,  Ivano-Frankivsk region. This was reported by Dmitry Romaniuk, the head of the department of European integration and the development of tourism in Ivano-Frankivsk Regional State Administration. “The German company Leoni AG will build a new plant in Ivano-Frankivsk region (Kolomyja) and will create 8150 […]

Next
OPEC + countries have agreed to increase oil production
News

Judge Finds 1977 Egyptian Pact Is Not Valid for 2015 US Divorce

A New York judge has determined that an Islamic marriage contract entered into during a 1977 wedding ceremony in Egypt is not binding on the court’s consideration of the couple’s divorce now. While Westchester County Supreme Court Justice Lawrence Ecker said New York courts have recognized that the marriage contract, called a “mahr,” can be enforceable, Ecker […]

Next
OPEC + countries have agreed to increase oil production
News

MEET NEW NUTTY ENJOYMENT FROM AXA

Good news from products company Lantmannen AXA was not long in coming! Company asked consumers: “What ingredients do you add most often to granola?” One of the most popular answers is nuts. We launched Super nuts Granola! The design has acquired the corporate style of the AXA Granola line. In combination with oatmeal, crispy honey […]

Next
OPEC + countries have agreed to increase oil production
News

The Security Service of Ukraine disclosed the company that tried to assign 37 million UAH from Agrarian Fund

The Security Service of Ukraine (SSU) has disclosed the company in Rivne region, which was trying to assign means of “Agrarian Fund”, PJSC, said the SSU press-center. According to the report, “Agrarian Fund”, PJSC has concluded the exchange transaction with a private company for the supply of 16 thousand tonnes of wheat worth over 67 […]

Next
OPEC + countries have agreed to increase oil production
News

Bitcoin exchange rate exceeded $ 47 thousand for the first time

According to CoinDesk, the price of the most popular cryptocurrency – bitcoin – has updated the historical maximum three times in a few hours, exceeding 47 thousand dollars. Thus, the value of one coin reached its peak on the night from Monday to Tuesday, February 9, and amounted to 47,143 dollars. In general, over the […]

Next
OPEC + countries have agreed to increase oil production
News

China reduced US treasury bond portfolio by $ 6.22 billion in September

China reduced its US Treasury bond portfolio by $ 6.22 billion to $ 1.062 trillion amid strained relations with Washington in September. This was reported on Friday by the South China Morning Post, citing data from the US Treasury. This was the lowest amount of these investments since February 2017. According to the publication, China […]

Next
OPEC + countries have agreed to increase oil production
News

Nvidia’s merger agreement with Arm could take more than two years because of China

It may take Nvidia twice as long to get approval for its deal to buy Britain’s largest technology company, Arm Holdings, which is owned by Japanese financial conglomerate SoftBank Group. After the companies announced a $ 40 billion deal last September, the first hurdle was a class action lawsuit from Google, Qualcomm and Microsoft, which […]

Next
OPEC + countries have agreed to increase oil production
News

Hungarian businessmen are ready to develop Ukrainian winemaking

Hungarian businessmen interested in the wine industry in Ukraine. They are willing to invest and develop the wine industry with a view to the sale of Ukrainian wines in Europe. This interest was announced during a meeting of Taras Kutovoy, the Minister of Agrarian Policy of Ukraine and Industry with Erno Keshkenom, Hungarian Ambassador to […]

Next
OPEC + countries have agreed to increase oil production
News

Amazon has received permission to deliver orders by drone to the United States

Amazon, an online retailer, has received permission from the US Federal Aviation Administration (FAA) to use drones to deliver parcels to customers. The permit was issued for the Prime Air service. Bloomberg writes that now Amazon will be able to start delivering their orders to customers on a commercial basis. The company and its competitors […]

Next
OPEC + countries have agreed to increase oil production
News

Chipotle shares fall rapidly after a scandal over substandard products

This week Chipotle (Chipotle Mexican Grill) closed another restaurant, this time in Boston, after a large number of students were poisoned by food. Questions of consumers about quality of products in Chipotle grow. Similar cases have been seen in other states, when people feel bad after a visit to Chipotle.  Food scandal confused the investors […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com