Gulf Oil and Gas accountACCOUNT

General Agreement among Oil Producers to Extend Output Cuts Deal

Source: KUNA 11/29/2017, Location: Middle East

Share |
Kuwait Oil Minister Essam Al-Marzouq said Tuesday a ministerial market monitoring committee would examine oil output levels for October and producers' commitment to production cuts, then refer recommendations to an OPEC meeting.

Ministers from OPEC and non-OPEC will thoroughly discuss whether to extend production cuts or not, said Al-Marzouq, also Minister of Electricity and Water.

Any decision will serve interest of the oil producers and consumer, and maintains oil market stability, Al-Marzouq told KUNA following his arrival in Vienna for the meetings.

He however said there was a general agreement among the 24 signatories to extend the production cut agreement following its expiration end of next March. Al-Marzouq said non-OPEC Russia would join the ministerial meeting.

Meanwhile, Iraqi Oil Minister Jabbar Al-Luaibi told KUNA Baghdad supported the production cut agreement. He said Iraq was satisfied with the current oil prices .

Production News in Kuwait >>

Kuwait >>  1/17/2018 - Kuwait’s oil minister Bakhit al-Rashidi said there is no plan or intention so far to exit from a production-cutting agreement among OPEC and non-OPEC ...
Nigeria >>  1/17/2018 - Eland Oil & Gas PLC, an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to announce...

Russia >>  1/16/2018 - Exillon Energy plc (Exillon Energy), a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") ...
United States >>  1/16/2018 - Talos Energy LLC (Talos) announced initial production from the Tornado II deep water well (GC 281 #2ST), located in the Phoenix Field of the Green Can...

United Kingdom >>  1/15/2018 - Angus Energy, a conventional oil and gas production and development company, has announced that it will resume conventional production from two curren...
Iran >>  1/12/2018 - Serica Energy plc (SQZ) is pleased to report that it has been informed by BP Exploration Operating Company (“BPEOC”), as operator of Bruce, Keith and ...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Kuwait Oil & Gas 1 >>  2 | 3 | 4 | 5 |

More News

 

Oil & Gas Companies in Kuwait >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.