16:45 GMT28 January 2020
Listen Live
    Get short URL
    0 42

    A meeting of the energy and oil ministers of seven Organization of the Petroleum Exporting Countries (OPEC) countries: Saudi Arabia, Kuwait, Qatar, the United Arab Emirates (UAE), Oman, Algeria and Iraq, will take place in Abu Dhabi on Friday.

    MOSCOW (Sputnik) According to media reports citing OPEC Secretary-General Mohammed Barkindo, the meeting which will take place on the sidelines of the Global Energy Forum, and will have an informal nature.

    The meeting will take place before the OPEC monitoring committee meeting in Vienna on January 21-22. Kuwait and Russia co-chair the committee convening with an aim establish the mechanism for monitoring the implementation of the oil output cap agreement.

    In November 2016, OPEC agreed to cut oil production by 1.2 million barrels per day to 32.5 million barrels per day for the whole cartel starting 2017. On December 10, OPEC finished a meeting with non-OPEC countries in Vienna, at which non-OPEC countries decided to cut oil output by 558,000 barrels per day, with Russia cutting the output by 300,000 barrels per day from January 2017.

    Never miss a story again — sign up to our Telegram channel and we'll keep you up to speed!


    Libya's Oil Output Increase May Undermine OPEC Plans on Production Cuts
    Kazakhstan Meets OPEC Obligation by Taking 20,000Bpd Off Oil Market
    Iraq Begins to Cut Oil Production in Line With OPEC Deal
    OPEC, 11 Non-Cartel Oil Producers Impose 6-Month Production Cuts Since January 1
    meeting, OPEC, Mohammed Barkindo
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik