The Annual Equipment of Pipeline and Oil &Gas Storage and Transportation Event
logo

The 16thBeijing International Natural Gas Technology & Equipment Exhibition

ufi

BEIJING, China

March 26-28,2026

LOCATION :Home > News> Industry News

OPEC output falls as Gulf nations step up delivery of oil cuts

Pubdate:2020-01-03 09:36 Source:liyanping Click:

LONDON (Bloomberg) - OPEC’s output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets.

Saudi Arabia, Iraq and the United Arab Emirates reduced production in December, the final month of a round of restrictions by the cartel before it presses on with new -- and even deeper -- curbs this year.

Output from the Organization of Petroleum Exporting Countries fell by 90,000 barrels a day to 29.55 million in December, according to a Bloomberg survey of officials, ship-tracking data and estimates from consultants including Rystad Energy AS and JBC Energy GmbH.

The campaign by OPEC and its allies to tighten supplies shored up global crude markets in 2019, pushing Brent prices up 23% despite a flood of new American shale oil and fragile fuel demand around the world. The coalition agreed early last month to deepen its curbs to prevent a new surplus forming in the first quarter.

The survey showed that Saudi Arabia, OPEC’s biggest member, is already making strides toward its new target. With 9.83 million barrels a day of production, the kingdom has cut more than twice the amount pledged under last year’s deal, and is well on its way to the new, self-imposed quota of 9.7 million barrels.

The U.A.E. also cut more than required under the expiring accord, trimming by 60,000 barrels a day to 3.04 million.

The performance of other nations has been less exemplary.

Iraq made a token gesture at fulfilling its commitments by curbing 60,000 barrels a day in December, but with an overall production rate of 4.65 million a day it’s only just down to the starting point for last year’s cutbacks. It will need to slash a further 180,000 barrels to meet its 2020 target.

Nigeria, which trimmed 30,000 barrels in December after repeated assurances it’ll adhere to its obligations, remains slightly higher than the baseline for its 2019 cuts.

Russia, the biggest producer in the OPEC+ alliance, has similarly shown a mixed performance. Its output of crude and condensate hit a post-Soviet high last year despite pledges to reduce, as Moscow proffered a succession of reasons why it couldn’t fully implement the agreed curbs.

Under the new agreement, which takes effect from this month, the 23 nations in the OPEC+ network have promised to extend their overall reductions by 500,000 barrels a day to 1.7 million, and the Saudis have pledged to go even further.

Whether or not Riyadh is satisfied with its partners’ progress will become clearer when the alliance holds its next meeting in early March.

主站蜘蛛池模板: 再深点灬舒服灬太大了网站 | 成人动漫3d在线观看| 国产免费拔擦拔擦8x| 久久精品久噜噜噜久久| 黑人粗大猛烈进出高潮视频 | 免费一区二区三区四区| ts人妖在线观看| 猫咪免费人成网站在线观看入口| 女同学下面粉嫩又紧多水| 免费网站无遮挡| ol丝袜高跟秘书在线观看视频| 男女一对一免费视频| 天堂资源在线官网| 亚洲爆乳少妇无码激情| 5060在线观看| 欧美中文字幕在线看| 国产成人精品福利网站人| 久久国产高清视频| 草莓视频黄色在线观看| 成年女人黄小视频| 免费看黄色片子| 99re这里只有精品6| 欧美国产亚洲日韩在线二区| 国产欧美va欧美va香蕉在线| 久久国产精品99精品国产| 草莓视频污污在线观看| 成年女人色毛片| 免费va在线观看| 6一10周岁毛片在线| 最近手机版免费中文字幕| 国产国产成人精品久久| 中文字幕一区二区日产乱码| 男女之间差差差| 国产精品理论片| 久久经典免费视频| 老师上课跳d突然被开到最大视频 老师你下面好湿好深视频 | 2020求一个网站男人都懂| 曰批免费视频播放在线看片二| 国产亚洲欧美久久久久| 一本色道久久88加勒比—综合| 波多野结衣69xx|