... producers. Yet, it was the states actually fulfilling the quotas that announced the reduction in April 2023.
Country
Production Cuts, thousand bpd
Saudi Arabia
500
Iraq
211
UAE
144
Kuwait
128
Kazakhstan
78
Algeria
48
Oman
40
Gabon
8
Total
1,157
Source:
OPEC
One important pattern is worthy of note. Previously, OPEC+ generally cut production quotas proportionally for all parties to the agreement. This meant that the actual supply reduction was less than the declared curtailment of quotas as some countries do not produce as much as they are allowed under quotas....
... special report on the history of the fight against pandemics in 14
th
, 17
th
and 18
th
centuries (the only thing that actually worked back then was the quarantine, too) and a package about the conversion (or rather not so much of a conversion) of the OPEC + into an OPEC ++.
Of course, there is a still a long way to go before the names of the members of the Saudi royal dynasty are referred to as easily as the actors of popular soap operas, but what’s to stay with us is the growing interest of the ...
... exports to Europe by six times and to India 10 times.”
Lukoil Vice President
Leonid Fedun
observed in an interview with Russian business daily RBK, “There were no real economic reasons for Russia’s participation or nonparticipation in the deal with OPEC. The very idea of abandoning the OPEC+ deal was not discussed by Russian leadership with the top national oil producers, though I know some [Russian] state companies lobbied for this decision.”
He added, “But even those who lobbied for Russia’s departure from the deal couldn’t ...
