The hottest OPEC meeting decided to maintain the d
2022-10-03- Detail
The OPEC meeting decided to maintain the daily output limit of crude oil.
the ministerial meeting of the organization of Petroleum Exporting Countries (OPEC) decided on December 4 that the Provincial Federation of industry and commerce would continue to maintain the current daily output limit of 30million barrels of crude oil
a communique was issued at the end of the meeting, saying that in order to maintain the market balance, the meeting decided to maintain the current production level. The 12 member countries of OPEC reiterated that they were ready to respond quickly once the situation had a negative impact on the orderly and balanced six point oil market
the communique said that in view of the uncertainty caused by the continued weakness of the world economy, we need to remain vigilant. To this end, the meeting instructed the Secretariat to continue to pay close attention to the development of supply and demand, as well as speculative behavior and other non basic factors
the communique said that the biggest challenge facing the global oil market in 2014 is the uncertainty of the global economy, and the euro zone economy is relatively fragile, which is still worrying. The sovereign debt crisis in the eurozone is still serious, the unemployment rate in developed economies, especially in the eurozone, remains high, and the growth of emerging economies slows down with inflation risks
The communique said that although the world oil demand is expected to increase in 2014, the increased supply of non OPEC oil producing countries is expected to exceed the new demandin 2011, OPEC decided to keep the daily oil production at 30million barrels, which has been maintained until now. At present, OPEC's crude oil production accounts for about one third of the world oil market share
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