On June 2, although at the meeting on Sunday, OPEC + has formally agreed to extend the "voluntary production reduction measures" until the end of 2024, two OPEC sources said that OPEC + will continue to reduce production from October 2024 to September 2025.
2024-06-02 13:12:50
Although OPEC + has formally agreed to extend the "voluntary production cuts" until the end of 2024 at its meeting on Sunday, two OPEC sources said that < b > OPEC + will phase out the voluntary production cuts of 2.20 million barrels per day between October 2024 and September 2025 . There are two kinds of "voluntary production reduction agreements" within OPEC, one is compensatory production reduction measures (top layer: the above-mentioned 2.20 million barrels/day), affecting member countries that have not made full voluntary production cuts; the second type is so-called compensatory production reduction measures, affecting a few countries that have failed to implement official production reduction measures (second layer: this part of the production capacity is about 1.66 million barrels/day). The source said that the second production reduction agreement will remain in effect throughout 2025. < br > < img src = "https://flash-scdn.jin10.com/f7391b2d-9f40-4e02-ab87-22e8d7db75a0.png" referrerpolicy = "no-referrer" >
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
欧佩克+初步同意将集体性减产措施延长至2024年底
