{"id":4577,"date":"2023-03-30T13:16:28","date_gmt":"2023-03-30T13:16:28","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=4577"},"modified":"2023-03-30T13:16:31","modified_gmt":"2023-03-30T13:16:31","slug":"opec-unlikely-to-tweak-oil-policy-in-monday-talks-delegates","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/4577\/","title":{"rendered":"OPEC+ unlikely to tweak oil policy in Monday talks &#8211; delegates"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>OPEC+ is likely to stick to its existing deal to cut oil output at a meeting on Monday, five delegates from the producer group told Reuters, after oil prices recovered following a drop to 15-month lows.<\/p>\n\n\n\n<p>Oil has recovered towards $80 a barrel for Brent crude after falling to near $70 on March 20, as fears ease about a global banking crisis and as a halt in exports from Iraq&#8217;s Kurdistan region curbs supplies.<\/p>\n\n\n\n<p>OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies led by Russia, is due to hold a virtual meeting of its ministerial monitoring panel, which includes Russia and Saudi Arabia, on Monday.<\/p>\n\n\n\n<p>&#8220;It is hard to expect any new development,&#8221; one of the delegates said of Monday&#8217;s talks. Another said the Kurdistan curbs and recent price drops were not sufficiently important to affect the overall OPEC+ policy path for 2023.<\/p>\n\n\n\n<p>Three other OPEC+ delegates also said any policy changes were unlikely on Monday. After those talks, the next full OPEC+ meeting is not until June.<\/p>\n\n\n\n<p>Falling oil prices are a problem for most OPEC+ members because their economies rely heavily on oil revenue.<\/p>\n\n\n\n<p>Even so, OPEC+ delegates\u00a0did not raise any suggestion of further action\u00a0to support the market after the recent price drop and predicted prices would stabilise &#8211; which they have since shown signs of doing.<\/p>\n\n\n\n<p>Last November, OPEC+ reduced its output target by 2 million barrels per day &#8211; the largest cut since the early days of the COVID-19 pandemic in 2020. The same reduction applies for the whole of 2023.<\/p>\n\n\n\n<p>Saudi Arabia&#8217;s energy minister\u00a0has said\u00a0OPEC+ will stick to the reduced target until the end of the year.<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2023-03-30T13:16:31+00:00\"> 30 March 2023<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"OPEC+ is likely to stick to its existing deal to cut oil output at a meeting on Monday, five delegates from the producer group told Reuters, after oil prices recovered following a drop to 15-month lows. Oil has recovered towards $80 a barrel for Brent crude after falling to near $70 on March 20, as [&hellip;]","protected":false},"author":1,"featured_media":4578,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,36,19,16,1],"tags":[],"services":[],"class_list":["post-4577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lastnews","category-news","category-oil","category-opec"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/4577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=4577"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/4577\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/4578"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=4577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=4577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=4577"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=4577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}