Opec Agreement June 2020

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The meeting decided that on December 1, 2020, an OPEC and non-OPEC ministerial meeting will also be held in Vienna, Austria. Apr 23, 2020 | Sound E.-E. Dr. Khaled Ali Al-Fadhel, Kuwaiti Minister of Petroleum, Minister of Electricity and Water and Chairman of the Board of Directors of Kuwait Petroleum Corporation (PCC), confirmed that the State of Kuwait has begun to adjust its oil production as part of its commitment in the Declaration of Cooperation to Support the Stability of the Global Oil Market. 06 Oct 2020 | Vienna, Austria, 6 October 2020 – The OPEC Secretariat today hosted the first OPEC and African Energy Commission (AFREC) technical workshop via videoconference. September 30, 2020 | Vienna, Austria, 30 September 2020 – The OPEC Secretariat today held the 18th Coordination Meeting on Climate Change by videoconference. Apr 27, 2020 | Vienna, Austria, 27 April 2020 – His E. Dr. Mohammed Bin Hamad Al-Rumhy, Minister of Oil and Gas of the Sultanate of Oman, briefed Mohammad Sanusi Barkindo, Secretary General of OPEC, of the Sultanate`s plans to voluntarily adjust oil production as part of its commitment to the Declaration of Cooperation.

November 27, 2020 | Vienna, Austria, 27 November 2020 – The 8th Technical Meeting of OPEC and Non-OPEC Countries of the Declaration of Cooperation (DoC) began with a video conference. Apr 30, 2020 | Vienna, Austria, April 30, 2020 – Abu Dhabi National Oil Company (ADNOC) has written to its customers its intention to voluntarily adapt its crude oil production in May and June 2020. 01 May 2020 | Vienna, Austria, May 1, 2020 – His Excellency Mohamed Arkab, Algerian Minister of Energy and President of the OPEC Conference, invited OPEC members and non-opec producer countries participating in the Declaration of Cooperation, which were invited to the 9 and 10 (extraordinary) OPEC and non-OPEC ministerial meetings, respectively on April 9 and 12, were fully implemented by videoconference. 03 June 2020 | Vienna, Austria, 3 June 2020 – The 133rd Council of the OPEC Economic Commission (ECB) met via webinar in Vienna. The ECB is the organisation`s legal economic and technical think tank. It meets regularly before the ordinary ministerial conference, which is held every two years in June and December. The Bureau shall be composed of the Secretary-General as President and the national representatives as members. November 11, 2020 | Vienna, Austria, 11 November 2020 – OPEC Secretary-General Mohammad Sanusi Barkindo today participated in a ministerial roundtable hosted by the Gas Exporting Countries Forum (GECF) to discuss natural gas and its key role as an energy source in a post-COVID world. On June 6, 2020, the Organization of the Petroleum Exporting Counties (OPEC) and the major oil-producing allies, together known as “OPEC+”, unanimously agreed to extend production cuts of about 10 million barrels per day until the end of July.

In addition to continuing the current production cuts until July, the agreement also shows that OPEC+ is focusing more on meeting the cuts agreed by member states. The OPEC+ Joint Ministerial Oversight Committee will meet monthly to verify compliance with agreed production quotas. Countries that overproduce their quota in May and June must compensate with corresponding reductions from July to September 2020. 16 May 2020 | Vienna, Austria, 16 May 2020 – Mohammad Sanusi Barkindo, Secretary General of OPEC, today sent a letter of condolence to SEINE Excellence Ing. Bijan Namdar Zanganeh, Minister of Oil of the Islamic Republic of Iran, sent after the death of Hossein Kazempour Ardebili, the representative of the country`s veterans on the OPEC Board of Governors. 26 May 2020 | Vienna, Austria, May 26, 2020 – Texas Railroad Commissioner Ryan Sitton, who has asked his state to adapt oil production, has commended the countries participating in the “Declaration of Cooperation” (DoC) for their swift efforts to stabilize the global oil market. . . .