Next Week Could Be A Turning Point For The OPEC Output Deal

4 Oct 2017   OPEC

OPEC ministers and ministers from other oil producing nations will discuss this week the progress of the production cut deal and a mechanism to monitor crude oil exports, on the sidelines of an energy forum in St. Petersburg, Russian Energy Minister Alexander Novak said on Tuesday. “We will discuss the state of the market and the current situation regarding monitoring and execution of the crude production deal with our colleagues at the Russian Energy Week,” Russia’s TASS news agency quoted Novak as saying. “At the latest meeting we agreed to monitor oil exports. This is a new instrument, which has not been clearly formed yet, which is why I think it will be one of the main issues on the discussion agenda from the viewpoint of export control mechanism,” Novak noted. Before the latest meeting on September 22, reports emerged that the OPEC/non-OPEC joint panel tasked with monitoring the […]

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