OPEC Expects Decrease in LH Production in Azerbaijan in 2024
Production of liquid hydrocarbons (LH) in non-OPEC countries in 2023 will increase by 1.5 million b/d compared to last year and will average 67.27 million b/d, while in the previous report an increase of 1.4 million b/d was forecast, to 67.14 million b/d, according to OPEC’s monthly report. “Downward revisions …
31st OPEC and non-OPEC Ministerial Meeting
The 31st OPEC and non-OPEC Ministerial Meeting was held via videoconference on 3 August 2022. The Meeting noted the dynamic and rapidly evolving oil market fundamentals, necessitating continuous assessment of market conditions. The Meeting noted that the severely limited availability of excess capacity necessitates utilizing it with great caution in …