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DoC JTC meets to review oil market developments
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KUNA : OPEC+ joint technical cmte evaluates market situation - General
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OPEC, Non-OPEC withdraw 2.1 billion barrels in 9 months
On
Appoints Sylva Special Envoy to consult with DoC nations
By Udeme Akpan
THE Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC member States, have withdrawn 2.1 billion barrels of excess oil from the volatile oil market, thus raising hope on market stability.
According to OPEC, which commended Nigeria for supporting its efforts, said the 2.1 billion barrels were slashed from the market between April 2020 and January 2021.
In a statement obtained by
Vanguard from OPEC at the end of its 26th Meeting of the Joint Ministerial Monitoring Committee (JMMC), which took place via video conference on Wednesday, 3rd February, 2021, under the Chairmanship of HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Deputy Prime Minister of the Russian Federation, OPEC stated: “The Committee further noted that DoC participants pledged to achieve full conformity and ma
OPEC optimistic of recovery in 2021 Nigeria-OPEC-Energy February 03, 2021 to 19:21 213 APA – Lagos (Nigeria) The 26th Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organisation of Petroleum Exporting Countries (OPEC) has said that although the economic prospects and oil demand will remain uncertain in the coming months, the gradual rollout of vaccines around the world is a positive factor for the rest of the year, boosting the global economy and oil demand.
The Committee report issued after the 26th Meeting of the Joint Ministerial Monitoring Committee (JMMC), which took place via videoconference on Wednesday, February 3, 2021, observed that in December 2020, stocks in OECD countries had fallen for the fifth consecutive month.
OPEC+ monitoring committee to meet on January 4
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