Bloomberg Reported of a New Date for the Meeting of OPEC+
OREANDA-NEWS. Bloomberg agency reported, citing an informed source, that the meeting of OPEC+ ministers may take place on June 6 or 7.
According to a journalists’ interlocutor, Russia and Saudi Arabia after disputes that lasted almost a week, tentatively agreed with Iraq on the conditions for reducing oil production.
Earlier, Bloomberg informed that Moscow and Riyadh are trying to achieve full compliance with the obligations of the parties to the transaction and insist that those who could not fulfill them compensate for non-compliance with quotas by even larger reduction.According to the agency, the parties managed to reach an agreement with Kazakhstan, Nigeria, Angola, and Iraq. At the same time, Bloomberg notes that it will be difficult for Baghdad to accept more stringent terms of the deal. In May, Iraq fulfilled its obligations only by half, and for full compensation the country will need to reduce oil production by 24 %, to 3.28 million barrels per day.