Oil merchants – OPEC+ introduced it is going to delay deliberate December output enhance by one month

Weekend information:

• OPEC+ agrees to delay December oil output enhance

In summery from the cartel’s assertion:

• Eight OPEC+ nations (Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman) prolonged their November 2023 voluntary manufacturing reduce of two.2 million barrels per day by December 2024.
• The Joint Ministerial Monitoring Committee (JMMC) will oversee compliance, with a deadline of September 2025 for compensating overproduction since January 2024.
• Iraq, Russia, and Kazakhstan reaffirmed their adherence to the manufacturing adjustment and compensation schedule.

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



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