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Sunday, Oct 02, 2022

OPEC+ to meet on Wednesday, discuss production rate

OPEC+ to meet on Wednesday, discuss production rate

OPEC plus on Sunday announced its 43rd Joint Ministerial Monitoring Committee (JMMC) and the 31st Ministerial meeting including non-OPEC members will be held on Wednesday to study its production rate.
Oil Production levels were at 648 bp/day for the months of July and August of last year, when the conference took place, where the topic was focused on stabilizing the market for steady production.

The concern of the OPEC+'s viable meeting on Aug 3rd is of great significance as to the increase in demands amid drastic reversions due to the Russian-Ukrainian conflict.

The meeting will take place on August 3rd at 00:13 (CEST) via videoconference, to be followed on the same day by OPEC+'s meeting at 13:30 (CEST) also via the online video media provided.

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