The discussions on the establishment of a new organization of oil-producing countries will be held during the meeting of the OPEC+ Monitoring Committee in September this year, the head of the press service of the Ministry of energy of Azerbaijan Zamina Aliyeva…

It does not make sense for the other OPEC+ countries to join a new organization, Edward Chow, a senior fellow in the Energy and National Security Program at the Center for Strategic and International Studies (CSIS), told Trend.

Azerbaijan presented data on its daily oil production in July 2018 to the OPEC Joint Technical Committee as part of the Vienna Agreement

Compliance with the Vienna Agreement, envisaging oil output cuts has eased to 97 percent in July as output cuts were relaxed.

According to secondary sources, total OPEC-15 crude oil production averaged 32.32 million barrels per day in July, an increase of 41,000 barrels per day over the previous month.

According to secondary sources, total OPEC-15 crude oil production averaged 32.56 million barrels per day (mb/d) in August, an increase of 278,000 b/d over the previous month.

Global supply in August reached a record 100 mb/d as higher output from OPEC offset seasonal declines from non-OPEC.

The Minister of Energy of Azerbaijan Parviz Shahbazov will take part in the 10th meeting of the Joint OPEC+ Ministerial Monitoring Committee, which will be held on September 23 in Algeria.

OPEC spare capacity fell below 1.4 million barrels per day (b/d) in September, the lowest level since December 2016 when global oil inventory levels were much higher, the US Energy Information Administration (EIA) said in its October Short-Term Energy Outlook…