10 Apr 2021 / 09:00 H. Deal sees OPEC+ output rising 350,000 bpd from May Gradual rise in OPEC+ production continues in June, July U.S. energy secretary, Saudi energy minister hold call (Adds details, end of meeting)
By Alex Lawler, Rania El Gamal and Vladimir Soldatkin
LONDON/DUBAI/MOSCOW, April 1 (Reuters) - OPEC+ agreed on Thursday to gradually ease its oil output cuts from May, sources said, after the new U.S. administration called on Saudi Arabia to keep energy affordable, mirroring Donald Trump s practice of calling OPEC s leader over oil policy.
The group, which has been implementing deep cuts since oil prices collapsed in 2020 due to the coronavirus crisis, agreed to ease production cuts by 350,000 barrels per day (bpd) in May, another 350,000 bpd in June and further 400,000 bpd or so in July.
UPDATE 8-OPEC+ to ease oil curbs from May after U S calls Saudi
thesundaily.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesundaily.my Daily Mail and Mail on Sunday newspapers.
10 Apr 2021 / 09:00 H. U.S. energy secretary, Saudi energy minister hold call Biden team had till now avoided Trump s approach to OPEC+ Saudi opens talks with call for cautious stance (Updates with start of OPEC+ meeting)
By Alex Lawler, Rania El Gamal and Vladimir Soldatkin
LONDON/DUBAI/MOSCOW, April 1 (Reuters) - OPEC+ debated on Thursday whether to keep deep oil output cuts in place or ease them after the new U.S. administration resumed Donald Trump s practice of calling OPEC leader Saudi Arabia over policy and said energy should be kept affordable.
Jennifer Granholm, the new energy secretary appointed by U.S. President Joe Biden, said on Twitter she had spoken to Saudi Energy Minister Prince Abdulaziz Bin Salman.
10 Apr 2021 / 09:00 H.
(Releads with U.S. call to Saudi Arabia)
By Alex Lawler, Ahmad Ghaddar and Rania El Gamal
LONDON/DUBAI, April 1 (Reuters) - The United States said in call with Saudi Arabia that energy should be kept affordable for consumers, as the administration of President Joe Biden resumed the practice of his predecessor Donald Trump who contacted OPEC s leader before key meetings.
U.S. Energy Secretary Jennifer Granholm said on Twitter she had a call with Saudi Energy Minister Abdulaziz Bin Salman. We reaffirmed the importance of international cooperation to ensure affordable and reliable sources of energy for consumers, Granholm said.
2 Min Read
NEW YORK (Reuters) -Oil fell more than $3 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States.
FILE PHOTO: A general view of a refinery in Hobbs, New Mexico, U.S. September 18, 2019. REUTERS/Adria Malcolm/File Photo
The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on Thursday to monthly production hikes from May to July. OPEC member Iran, exempt from making voluntary cuts, is also boosting supply. [OPEC/O]
“The timing was not good,” said Bob Yawger, director of energy futures at Mizuho Securities. “It seemed like OPEC+ was going to roll the deal, but they didn’t and now it looks like they’re going to have to pay at least in the short term.”
vimarsana © 2020. All Rights Reserved.