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OPEC+ agrees to cut production slightly in October International oil prices rose significantly during the European trading session on September 5

 Last Update: 2023-01-07
 Source: Internet
 Author: User

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According to Dow Jones' news website Market Watch, on the 5th local time, the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producers held the 32nd ministerial meeting
by video.
Participants agreed to restore total oil production to August levels in October, meaning that October oil production will be 100,000 barrels per day less than in September
.
The chair of the agency was requested to consider convening a ministerial meeting between OPEC and non-OPEC oil producers at any time if necessary to address market developments
.
Affected by this, international oil prices rose during the European trading session that day
.
As of 21:48 Beijing time on the 5th, light crude oil futures for October delivery rose 3.
29% to $89.
73 per barrel, and London Brent crude futures for November delivery rose 3.
58% to $
96.
35 per barrel.
The meeting also decided to hold the 33rd ministerial meeting
between OPEC and non-OPEC oil producers on October 5 this year.

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