OPEC+ Meeting Concludes With Support For Cut Extension » EntornoInteligente

OPEC+ Meeting Concludes With Support For Cut Extension

Entornointeligente.com /

More Info

Share Facebook Twitter Google + Linkedin Reddit Related News Libya’s Oil Production Exceeds 1.2 Million Bpd The Price Of Permian Acreage Has Slumped By 67% After Oil Price Crash PDVSA Chief Goes to Russia To “Deepen Ties” Enbridge Gets More Permits For Line 3 Fuel Demand Slump Speeds Up Refinery Closures OPEC+ Meeting Concludes With Support For Cut Extension By Julianne Geiger – Nov 16, 2020, 5:30 PM CST OPEC+’s technical meeting finished on Monday with widespread support for a three-month extension of the current level of oil production cuts, sources told Reuters on Monday

Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Finance the Economy the Markets Investing & Trading Reports Commodities Gold Silver Breaking News Premium Articles Community My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 10 mins 41.57 +0.23 +0.56% Brent Crude • 10 mins 44.13 +0.31 +0.71% Natural Gas • 13 mins 2.701 +0.004 +0.15% Mars US • 42 mins 40.53 -0.94 -2.27% Opec Basket • 4 days 42.05 -0.92 -2.14% Urals • 20 hours 39.60 +0.00 +0.00% Louisiana Light • 4 days 41.13 -0.97 -2.30% Louisiana Light • 4 days 41.13 -0.97 -2.30% Bonny Light • 20 hours 43.83 +1.17 +2.74% Mexican Basket • 4 days 38.00 -0.83 -2.14% Natural Gas • 13 mins 2.701 +0.004 +0.15% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Marine • 20 hours 43.85 +0.63 +1.46% Murban • 20 hours 44.19 +0.65 +1.49% Iran Heavy • 20 hours 41.87 +1.24 +3.05% Basra Light • 20 hours 46.38 +1.14 +2.52% Saharan Blend • 20 hours 43.26 +1.19 +2.83% Bonny Light • 20 hours 43.83 +1.17 +2.74% Bonny Light • 20 hours 43.83 +1.17 +2.74% Girassol • 20 hours 44.84 +0.92 +2.09% Opec Basket • 4 days 42.05 -0.92 -2.14% OPEC Members Monthly Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Canadian Crude Index • 59 days 29.03 +0.74 +2.62% Western Canadian Select • 2 hours 30.58 -0.59 -1.89% Canadian Condensate • 19 hours 39.13 -0.99 -2.47% Premium Synthetic • 19 hours 40.53 -0.99 -2.38% Sweet Crude • 2 hours 35.23 -0.79 -2.19% Peace Sour • 2 hours 33.13 -0.99 -2.90% Peace Sour • 2 hours 33.13 -0.99 -2.90% Light Sour Blend • 2 hours 35.13 -0.99 -2.74% Syncrude Sweet Premium • 2 hours 36.08 -0.79 -2.14% Central Alberta • 2 hours 33.13 -0.99 -2.90% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Louisiana Light • 4 days 41.13 -0.97 -2.30% Domestic Swt. @ Cushing • 20 hours 37.75 +1.00 +2.72% Giddings • 20 hours 31.50 +1.00 +3.28% ANS West Coast • 5 days 43.01 -0.65 -1.49% West Texas Sour • 20 hours 35.29 +1.21 +3.55% Eagle Ford • 20 hours 39.24 +1.21 +3.18% Eagle Ford • 20 hours 39.24 +1.21 +3.18% Oklahoma Sweet • 20 hours 37.75 +1.00 +2.72% Kansas Common • 4 days 30.50 -0.75 -2.40% Buena Vista • 4 days 43.79 -0.91 -2.04% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

1D 1M 3M 1Y All Charts Discussion Headlines 2 hours OPEC+ Meeting Concludes With Support For Cut Extension 4 hours Sudan To Offer 27 Oil Concessions In Global Bidding Round 5 hours Oil & Gas Discoveries Resilient In 2020 Despite Pandemic 7 hours U.S. Natural Gas Stocks Close To Record-High At Refill Season End 9 hours Michigan Order Enbridge To Shut Down Line 5 10 hours Twitter Blocks Iran Oil Minister’s Account 3 days OPEC+ Compliance With Cuts At 101% Ahead Of Crucial Meetings 3 days Libya’s Oil Production Exceeds 1.2 Million Bpd 3 days The Price Of Permian Acreage Has Slumped By 67% After Oil Price Crash 3 days PDVSA Chief Goes to Russia To “Deepen Ties” 3 days Enbridge Gets More Permits For Line 3 4 days Fuel Demand Slump Speeds Up Refinery Closures 4 days Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster 4 days Energy Has Become Bargaining Chip In Brexit Talks 4 days Australia-China Spat Threatens LNG Deal 4 days African Oil Producers Face Slump In Production 4 days Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production 4 days Ghana Tells Eni To Merge Oil Field With Local Discovery 5 days Iran Claims Its Oil Exports Have Been At 700,000 Bpd Since March 5 days Lockdowns And More Lockdowns Threaten Oil Demand 5 days This Middle East Crude Is Becoming A Popular Benchmark For U.S. Oil Majors 5 days Saudi Arabia And Iraq Agree To Intensify OPEC Cooperation 5 days Canada And Saudi Arabia Lead Fossil Fuels Funding In G20 5 days Oxy Becomes First U.S. Driller To Announce Net-Zero Plan 6 days Oil Prices Tick Up With Inventory Draws Across The Board 6 days U.S. Energy Related CO2 Emissions Drop 6 days Pirate Attacks On Oil Tankers Off West Africa Intensify 6 days IEA: Renewables To Grow 7% In 2020 7 days UAE Oil Major ADNOC Sees Oil Demand Reaching 105 Million Bpd Within Decade 7 days Oman Looks To Raise $3 Billion Through Its Largest Oil Block 7 days India Invites Foreign Firms To Invest In Its Strategic Petroleum Reserves 7 days Japan Bets Big On Hydrogen For Zero-Emission Future 7 days Libya’s Oil Output Hits 1 Million Bpd 10 days UK Warning Highlights Energy Storage Importance To Renewables 10 days Coal Consumption In U.S. Electricity Sector Plunges 30% 10 days Alberta Strikes Methane Emissions Deal With Federal Government 10 days Colorado Takes Aim At Oil, Gas Well Flaring 10 days Trump Replaces FERC Chairman In Surprise Move 11 days From Billions To Millions: Canada’s Offshore Oil Disappointment 11 days India Wants OPEC To Fix Asian Oil Pricing Anomaly 3 minutes War for Taiwan? 7 minutes How China Is Racing To Expand Its Global Energy Influence 10 minutes Is it time to talk about Hydrogen? 46 mins U.S. Presidential Elections Status – Electoral Votes 1 day Fox News Parent Corporation stock dropped 6% today as Fox News Channel experiences viewer exodus. 6 hours Trucking Demand; Refrigerated Vaccine Distribution 2 hours One drawback of an EV . . . . 1 day What China fears more than war. and it’s happening now 42 mins Biden says more people voted for him than Trump. I disagree. I don’t know anyone that voted FOR Biden. They either voted for Trump or against Trump. 1 day Trump Bans Americans From Investing In Chinese PLA-Linked Firms With Executive Order 18 hours Trump tells confidants if he loses he will run again in 2024. File before end of year . . . BRILLIANT ! 17 hours The Big Picture 1 day GPORGulfport Oil – Why? Breaking News: OPEC+ Meeting Concludes With Support For Cut Extension

Find us on:

OPEC Cuts Oil Demand Outlook Again As COVID Slows Recovery For yet another month, OPEC…

Ecuador’s Vast Oil Wealth May Never Be Tapped Ecuador has experienced a string…

Home Latest Energy News Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Share Facebook Twitter Google + Linkedin Reddit Related News Libya’s Oil Production Exceeds 1.2 Million Bpd The Price Of Permian Acreage Has Slumped By 67% After Oil Price Crash PDVSA Chief Goes to Russia To “Deepen Ties” Enbridge Gets More Permits For Line 3 Fuel Demand Slump Speeds Up Refinery Closures OPEC+ Meeting Concludes With Support For Cut Extension By Julianne Geiger – Nov 16, 2020, 5:30 PM CST OPEC+’s technical meeting finished on Monday with widespread support for a three-month extension of the current level of oil production cuts, sources told Reuters on Monday.

OPEC sources hinted last week that many members were in support of extending the production cuts that were supposed to ease 2.0 million bpd in January, to 5.7 million bpd.

Other members were in favor of even more drastic measures, which included cutting deeper come January.

While the agreement of the group to keep at it seems to have the support of most members of the group, challenges remain. Some members, including Iraq, have signified that they may not be onboard with an agreement unless it garners unanimous support from all members.

Meanwhile, Libya, which has intimated that it demands to continue to be exempt from the production cuts until its production stabilizes around 1.7 million bpd, keeps adding production to the mix now that the blockade that has plagued the country for months has ended. This reality has added nearly a million barrels per day into the mix at a time when OPEC+ is desperately trying to remove barrels from the market.

No matter how many barrels of oil the extension of the current level of cuts actually removes from the market, any move by OPEC+ to extend the cuts beyond January will be received favorably by the market and should life oil prices.

Despite OPEC’s best efforts to rebalance the oil markets, the cartel has been under the gun with oil demand falling considerably with the pandemic lockdowns.

Oil prices were eagerly waiting for direction from the group, and by 3:15 p.m. ET, Brent was trading up $1.08 (2.52%) at $43.86 per barrel.

Next on OPEC’s agenda is the Joint Ministerial Monitoring Committee, which will recommend what action OPEC+ should take next.  A final decision is expected to come out of the full OPEC meeting on November 30 and December 1.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:

Oil Prices Leap Higher On Fresh Vaccine Hopes

25 Energy Stocks To Buy Or Sell After The Election

Oil Majors Aren’t Worried About A Biden Presidency

Join the discussion |

Entornointeligente.com

URGENTE: Conoce aquí los Juguetes más vendidos de Amazon www.smart-reputation.com >
Smart Reputation
Repara tu reputación en Twitter con Smart Reputation
Repara tu reputación en Twitter con Smart Reputation

Adscoins

Smart Reputation

Smart Reputation