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 >>

Norway >>  10/15/2018 - On 14 October the Oseberg Vestflanken 2 field in the North Sea came on stream. Remote-operated from the Oseberg field centre, the new Oseberg H platfo...
United States >>  10/10/2018 - Murphy Oil Corporation (MUR) announced that its wholly owned subsidiary, Murphy Exploration & Production Company - USA, has entered into a definitive ...

Iraq >>  10/9/2018 - Genel Energy plc notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has issued an update on licence activity: ...
Brazil >>  10/5/2018 - Dommo Energia S.A., announces to its shareholders and the general market that the oil production from the Atlanta Field reached a total of 1,185.1 tho...

Australia >>  10/1/2018 - INPEX CORPORATION (INPEX) announced that the INPEX-operated Ichthys LNG Project (the Project) recently commenced shipment of condensate (ultra-light c...
Brazil >>  9/27/2018 - The crude oil production from the newly acquired 25 % interest in the Roncador oil field in Brazil will be lifted and transported by shuttle tankers. ...

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. - Terms of Service - Privacy Policy.