OPEC countries agreed to adjust oil production in 202405.06.2023 | 18:13 |
The total level of crude oil production for OPEC member countries will be set at 40.46 million barrels per day. The corresponding decision was made following the results of the 35th OPEC ministerial meeting in Vienna.
The statement of the organization notes that this decision is aimed at achieving and maintaining the stability of the oil market.
By the end of June next year, an assessment of all OPEC member countries will be carried out to determine the production capacity of each country by three independent sources.
In particular, monitoring will be carried out by IHS, Wood Mackenzie and Rystad Energy. The analysis will be the basis for establishing production control levels for 2025.