The OPEC and OPEC+ meetings will be held on November 30 in an online format
"The 187th OPEC Meeting-Conference, the 51st meeting of the Ministerial Monitoring Committee and the 36th ministerial meeting of OPEC and non-OPEC will be held online on Thursday, November 30," the message says.
On the eve of OPEC announced that the conference of the member countries of the organization, as well as the meeting of the monitoring committee and the ministerial meeting of OPEC+, which were to be held in Vienna on November 25-26, are postponed to November 30. As sources in OPEC+ told foreign news agencies, the delay is due to disagreements between Saudi Arabia and African countries over their quotas.
As Bloomberg noted from the delegates' words, it takes more time for the influential members of the alliance to agree with some African countries to reduce their production targets, which caused speculation about the possible withdrawal of Angola, one of the continent's largest oil producers, from the alliance. However, according to the representative of Angola in OPEC, Estevan Pedro, quoted by the agency, the country does not plan to withdraw from the agreements.
In addition, the representative of the Nigerian state oil company NNPC, Olufemi Soney, said earlier on Thursday that the country was increasing its oil production. Now production is 1.7 million barrels per day, and by the end of the year it is planned to increase it to 1.8 million. At the same time, now Nigeria's quota in OPEC+ is 1.742 million barrels per day, in 2024 it should decrease to 1.38 million.
During the June meetings of OPEC and OPEC+, foreign media wrote, citing sources, that Saudi Arabia was trying to negotiate with African countries to reduce their quotas for oil production. At the same time, the kingdom discussed with the UAE the possibility of increasing their production. As a result, quotas for most African countries, as well as for other OPEC+ members, were reduced for 2024. And the share of the UAE was slightly increased.