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MercoPress, en Español

Montevideo, December 22nd 2024 - 15:50 UTC

Tag: non-OPEC countries

  • Monday, November 12th 2018 - 18:13 UTC

    Oil producing countries agree on need to cut down crude output due to oversupply

    Producers implemented large cuts starting at the beginning of 2017 but they eased output cuts as of June this year.

    They call it “production adjustments,” but in reality most major oil extracting countries agreed Sunday new strategies regarding crude output were needed in light of the surplus accrued over the past few months.

  • Thursday, December 1st 2016 - 15:30 UTC

    Russia ready to do its part as OPEC countries agree on oil output cut

    Russia ready to follow suit after OPEC countries agree to cut down oil production, says minister Alexander Novak

    As the Organization of Petroleum Exporting Countries (OPEC) has reached a deal among all 14 members to cut oil production for the first time since 2008, Russia's Energy Minister Alexander Novak said his country was ready to do its part by reducing 300,000 barrels per day in the first half of 2017, provided OPEC adheres to the level of 32.5 mln barrels daily adjusted for Indonesia and on condition of maximum reciprocity from other non-OPEC countries. Russia is not an OPEC member.