OPEC+ TO DECIDE ON CRUDE PRODUCTION LEVELS FOR AUGUST

Luanda – The members of the Organisation of the Petroleum Producing and Exporting Countries (OPEC) and non-OPEC meet Thursday to analyse the market in June and forecast production levels for August.

The organisation made the last adjustments to the table in April of this year for each member country.

In Angola’s case, production of one 1.283 million barrels per day was allowed in May, one 1.298 million in June and 1.319 million now for this July.

Three meetings will be held at separate times today, after the JMMC (Joint Ministerial Monitoring Committee) meeting, which was scheduled for Wednesday, 30 June, was postponed at the request of Russian co-chairman Alexander Novak.

The JMMC Meeting will analyse the current oil market and propose production levels for the month of August.

This time, from midday, the 181st OPEC Conference Meeting will take place, followed by the 31st JMMC and the 18th OPEC+ Ministerial.

By videoconference, the 181st OPEC Meeting will be chaired by the Angolan Minister of Mineral Oil and Gas Resources, Diamantino Pedro Azevedo, who is also the president of that organization.

The meeting will review and approve the Minutes of the 180th Meeting of the Conference, the financial and auditor’s reports for 2020 and of the chairman of the JMMC (Joint Ministerial Monitoring Committee), besides the appointment of new External Auditors for 2021

Source: Angola Press News Agency