Replace the attached chart with a new chart ? Effort to deepen cuts believed to be driven by Saudi which hopes higher prices will support IPO of state-owned Aramco. Asian stocks are mixed today with caution ahead of OPEC meeting outcome offsetting optimism about US economic outlook spurred by solid growth and consumer confidence data overnight. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion. Looking forward, all eyes are focused on the outcome of the OPEC+ virtual meeting, which will discuss the group's oil supply management policy. Here you can find details of forthcoming OPEC events. The 180th Meeting of the OPEC Conference to reconvene December 1 30 Nov 2020 | The 180 th Meeting of the OPEC Conference has adjourned for today. "Today’s OPEC+ meeting could be paving the way for a gradual production ramp-up from April onwards, the details of which the OPEC+ group will likely debate in the next monthly meeting. 04 Jan 2021 | The 13th OPEC and non-OPEC Ministerial Meeting has been adjourned until tomorrow, Tuesday, 5 January. Oil prices remain the same, rising for a third consecutive week due to hope that OPEC+ would delay the increase in output. The oil market “is still in a fragile state and needs support,” Russia’s Energy Minister Alexander Novak said in opening remarks at the virtual meeting. Venue. 03 Dec 2020 | The 12th OPEC and non-OPEC Ministerial Meeting (ONOMM) was held via videoconference, on Thursday, 03 December 2020. HE Wang Qun, Ambassador of the Permanent Mission of China to the United Nations and Other International Organizations in Vienna also attended the meeting and delivered opening remarks. Consider These 2 ETFs. All Rights Reserved, Avoid profanity, slander or personal attacks. Brent crude futures were up 5 cents, or 0.1% to $44.25 a barrel at 0505 GMT. OPEC-Russia meeting delayed until April 9 amid turmoil in energy markets. DUBAI - Kuwait's oil minister said on Tuesday he is optimistic about the outcome of OPEC meetings this week and continued cooperation among OPEC+ countries, Kuwait state news agency KUNA reported. File . [+] meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna, Austria, on March 6, 2020. 20 Nov 2020 ; Picture used for illustrative purpose. An Opec official said talks to ratify the deal to cut 10m barrels a day of production, or roughly 10 per cent of global supply, would continue at the meeting of G20 energy ministers on Friday. 03 Feb 2021 | At the 26th Meeting of the Joint Ministerial Monitoring Committee (JMMC) held on 3 February 2021, the Chair of the Committee, HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-chair, HE Alexander Novak, Deputy Prime Minister of the Russian Federation, commended the positive efforts of all countries participating in the ‘Declaration of Cooperation’ (DoC) for the monumental strides taken toward attaining full conformity with their voluntary adjustments in output. The OPEC+ announcement on Thursday that the cartel was extending production cuts shocked the markets. The members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies willing to support the tumbling oil market have postponed their emergency talks till Thursday. Investing.com - With market volatility continuing there’s little chance of predicting now how stocks will be moving at the opening bell tomorrow. 6 min read. OPEC Meeting Allows Kazakhstan, Russia to Increase Oil Production in April The Astana Times 13:52 9-Mar-21 ERX: Crude Oil Pricing Power Now In The Hands Of OPEC, Russia Seeking Alpha 12:39 9-Mar-21 NOK Comment: OPEC+ gives support to NOK Nordea Markets 11:51 9-Mar-21 By Nick Cunningham - May 22, 2017, 6:00 PM CDT. [+] meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna, Austria, on March 6, 2020. Gulf Today Report. OPEC meetings are attended by representatives from 13 oil-rich nations. Yesterday was heavy on surprises leading to plenty of drama. Gulf Today Report. Are you sure you want to delete this chart? Oil prices steady on economic recovery optimism Gulf Today 11:28 10-Mar-21 'Super cautious' OPEC stance on output increases could backfire, Citi says ShareCast 11:17 10-Mar-21. “The outcome of today’s OPEC meeting lends to a running of the bulls in oil markets, as global oil demand rebounds amidst recovery in the COVID-19 pandemic while OPEC, which controls a … Members of the Organization of Petroleum Exporting Countries otherwise known as OPEC agreed that the group should cap off production to 30 million barrels a day at their current summit in Vienna, Today’s OPEC meeting. Please note that all comments are pending until approved by our moderators. © 2021 Organization of the Petroleum Exporting Countries, 14th OPEC and non-OPEC Ministerial Meeting, OPEC’s 8th International Seminar postponed to 29-30 June 2022, IEA-IEF-OPEC Symposium on Energy Outlooks discusses global energy security and market stability, Kazakhstan conveys its full commitment to compensate for overproduced volumes, HE Timipre Sylva of Nigeria appointed Special Envoy for further consultations with DoC Participating Countries, Iraq expresses commitment to compensate for overproduced volumes, JMMC optimistic for year of recovery in 2021, 13th OPEC and non-OPEC Ministerial Meeting concludes, The 13th OPEC and non-OPEC Ministerial Meeting to reconvene on 5 January, Stabilizing the international oil market and jointly facing the challenge of the COVID-19 pandemic – Fourth High-level Meeting of the OPEC-China Energy Dialogue, 47th JTC and 25th JMMC moved to 3 and 4 January 2021, The 12th OPEC and non-OPEC Ministerial Meeting concludes, The 180th Meeting of the OPEC Conference to reconvene December 1, Opening remarks to the 180th Meeting of the OPEC Conference, Statement on attack on Saudi Arabian products distribution station in Jeddah. Updated 4:42 PM ET, Sat April 4, … Where can we find the minutes or report of this meeting? The Meeting was co-chaired by HE Zhang Jianhua, Administrator of the National Energy Administration, People’s Republic of China, and OPEC Secretary General, HE Mohammad Sanusi Barkindo. 04 Mar 2021 | The 14th Meeting of OPEC and non-OPEC Ministers took place via video conference on Thursday March 4, 2021, under the Chairmanship of HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Deputy Prime Minister of the Russian Federation. Nikkei ended flat today at 18308.48 with yen edging higher against the dollar. Oil prices fell on Monday after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help to reduce global oversupply as the coronavirus pandemic pummels demand. Oil prices surged more than five percent by the end of the meeting, reaching levels not since early January 2020. Tomorrow, the OPEC+ alliance is set to announce its decision on oil supply. An Opec official said talks to ratify the deal to cut 10m barrels a day of production, or roughly 10 per cent of global supply, would continue at the meeting of G20 energy ministers on Friday. If … Brent crude futures were up 5 cents, or 0.1% to $44.25 a barrel at 0505 GMT. 14 th OPEC and non-OPEC Ministerial Meeting… OPEC is responsible for nearly 40% of the world's oil supply. Azerbaijan's energy ministry on Friday said that a meeting of the OPEC+ group of oil producers is planned for April 6 and will be held as a video conference, the RIA news agency reported. Sign up to create alerts for Instruments, Exxon Mobil shares close up 3.9% on the stock market today, giving up earlier gains. The decision came after days of discussions, and after a meeting … Asian stocks are mixed today with caution ahead of OPEC meeting outcome offsetting optimism about US economic outlook spurred by solid growth and consumer confidence data overnight. "Regarding cuts in production, given today's decision, from April 1, no one -- neither OPEC countries nor OPEC+ countries -- are obliged to lower production," he told reporters after the meeting. The meeting will resume at 15:30 (Vienna time) tomorrow. The deal will need to be ratified at a meeting, scheduled for Friday in Vienna, of officials from OPEC, Russia, and other oil-producing countries like Kazakhstan and Oman. Today’s OPEC meeting (3pm 9 April 2020) is expected to result in dramatic production cuts for OPEC member states and affiliated non-members. Oil prices steady as markets await OPEC+ meeting outcome. Event. %USER_NAME% was successfully added to your Block List. Since you’ve just unblocked this person, you must wait 48 hours before renewing the block. 24 Nov 2020 | The terrorist attack that caused a fire to break out in a fuel tank at a petroleum products distribution station in north Jeddah, Saudi Arabia, is a cowardly act against a key installation that helps distribute vital energy needs. After a long OPEC+ meeting, including a long list of non-OPEC producers, a disputable outcome was presented, with a Mexican standoff threatening even a full agreement until now. Member Country delegations will reconvene for further deliberations tomorrow (December 1). Opec meeting could see … US President Donald Trump has even got involved, with the fate of the US shale market intrinsically tied to the outcome of today’s meeting. Today’s OPEC+++ meeting and the US Jobless Claims data are the all-consuming focus of financial markets today, leaving Asian markets treading water this morning. 03 Feb 2021 | Kazakhstan continues to demonstrate its full support for the decisions taken at OPEC and non-OPEC Ministerial Meetings (ONOMM), most recently the 13th ONOMM on 4/5 January 2021. The 14 nations who are members of OPEC accounted in 2015 for 43% of the worlds oil production, as well as holding 73% of global proven oi… The delay was confirmed by the Azerbaijan Energy Ministry to Russian media on Saturday, one day after it had announced that the talks were set to be held on April 6. Nikkei ended flat today at 18308.48 with yen edging higher against the dollar. A meeting in early March broke down after OPEC member Saudi Arabia and non-member Russia failed to agree on production cuts—leading to a price … 30 Nov 2020 | The 180th Meeting of the OPEC Conference has adjourned for today. By doing so, you and %USER_NAME% will not be able to see The new decision means OPEC+ has decided on cuts totalling almost seven million bpd for April, after 7.05 million bpd for March and 7.125 million bpd in February. OPEC+ had been widely expected to raise production output by 500,000 barrels per day. The meetings are taking place at OPEC’s headquarters in Vienna. 28 Dec 2020 | [Joint Conclusion] The Fourth High-level Meeting of the OPEC-China Energy Dialogue was held by videoconference on 7 December 2020. By Kim Khan  OPEC and its oil-producing allies agreed to increase production by 500,000 barrels per day beginning in January. 03 Feb 2021 | Iraq reiterates its commitment to adhering to full conformity and compensating for overproduced volumes in accordance with decisions taken at OPEC and non-OPEC Ministerial Meetings (ONOMM), most recently the 13th ONOMM on 4/5 January 2021. U.S. crude prices, as measured by West Texas Intermediate futures, fell 9.3% to $22.76 a barrel, a roughly 20% swing from intraday highs. The more active US West Texas Intermediate (WTI) crude contract remained unchanged at $41.90 a barrel. Here's what could happen at the next OPEC meeting in Vienna this week after oil prices crashed in November. Join Our Community. OPEC-Russia meeting delayed until April 9 amid turmoil in energy markets. Chris Liakos and Victoria Cavaliere . OPEC expected to agree on deeper oil cuts, pushing prices higher. The outcome of the G20-OPEC+ oil production cut discussion is very disappointing. Looking forward, all eyes are focused on the outcome of the OPEC+ virtual meeting, which will discuss the group's oil supply management policy. (Photo by ALEX HALADA / AFP) (Photo by ALEX HALADA/AFP via Getty Images) The OPEC+ announcement on Thursday that the cartel was extending production cuts shocked the markets. The Most Likely Outcome Of The OPEC Meeting By Nick Cunningham - Dec 04, 2018, 6:00 PM CST ... Trending Today. 03 Feb 2021 | The 26th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 3 February 2021, under the Chairmanship of HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Deputy Prime Minister of the Russian Federation. Today’s OPEC meeting (3pm 9 April 2020) is expected to result in dramatic production cuts for OPEC member states and affiliated non-members. But it’s a good bet the move will be... Investing.com - U.S. crude prices jumped in early morning trade Monday as Russia confirmed that OPEC and its allies would extend their production cut agreement for nine months, while a truce in the... By Barani Krishnan OPEC+ wrong-footed markets by leaving their production cuts intact for another month, delivering a 150,000 bpd increase to Russia and... We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. OPEC+ had been widely expected to raise production output by … Investing.com – It was just the tonic the doctor ordered for the ailing commodity bull. OPEC holds an emergency meeting Thursday. Your status will be reviewed by our moderators. Please wait a minute before you try to comment again. Article share tools. Journalists and oil industry analysts are welcome to attend these events, provided that they register in advance. OPEC Meetings. Oil prices remain the same, rising for a third consecutive week due to hope that OPEC+ would delay the increase in output. After January’s OPEC meeting, Saudi Arabia voluntarily agreed to cut its own production by one million barrels a day, to about 8.1 million. Date. The agreed-upon 10+ million bpd production cut is based on semantics and not on facts able to hold in the market.