VIENNA – OPEC+ has decided to adjust the level of overall crude oil production to 40.46 mb/d starting Jan. 1, 2024 until Dec. 31, 2024.
This was announced by the global organization in a statement following the 35th OPEC and non-OPEC Ministerial Meeting in Vienna today.
According to the statement, OPEC and non-OPEC participating countries in the Declaration of Cooperation, the participating countries decided to “adjust the level of overall crude oil production for OPEC and non-OPEC Participating Countries in the DoC to 40.46 mb/d, starting 1 January 2024 until 31 December 2024.”
As per the statement the Joint Ministerial Monitoring Committee (JMMC) has been granted the authority to hold additional meetings, or to request an OPEC and non-OPEC Ministerial Meeting at any time to address market developments, whenever deemed necessary.
It has been decided to hold the 36th OPEC and non-OPEC Ministerial Meeting on Nov. 26, 2023 in Vienna. (WAM)
