No agreements were reached on Friday at OPEC+ meeting in Vienna on the exclusion of condensate from the calculations of the OPEC+ quotas under the oil rpoduction cut deal, the previous rules will apply in the first quarter of 2020, Azerbaijan's Energy Minister Parviz Shahbazov said
VIENNA (Pakistan Point News / Sputnik - 06th December, 2019) No agreements were reached on Friday at OPEC+ meeting in Vienna on the exclusion of condensate from the calculations of the OPEC+ quotas under the oil rpoduction cut deal, the previous rules will apply in the first quarter of 2020, Azerbaijan's Energy Minister Parviz Shahbazov said."There are no changes so far. The rules that existed until today will apply to the agreements [on additional oil output reduction] that have been adopted today," the minister told reporters in Vienna after the meeting.
The 24 participants of OPEC+ oil cut deal on Friday agreed on an additional reduction in production totaling 2.1 million bpd for the first quarter of 2020.
