The OPEC agreement

Jun 25, 2018 8:35:50 AM / by Vepica Corporate


The Organization of Petroleum Exporting Countries (OPEC) held the VII OPEC International Seminar at the Imperial Palace of HofBurg, in Vienna, Austria. The event took place on June 20 and 21, 2018. According to the opening speech given by the Secretary General of the OPEC, Mohammad Sanusi Barkindo, 24 oil-producing nations attended and the conference theme was "Petroleum -Cooperation for a Sustainable Future".


The objective of the seminar was to provide a new impetus to the oil industry’s key problems and challenges, helping to improve existing channels of dialogue and cooperation.  Present, on this occasion, were officials from energy and oil ministries, company executives from oil and financial firms, and other industry representatives.


On Friday, June 22, the OPEC, together with the other 24 countries, reached a consensus to increase crude supplies by one million barrels per day (mbd), which translates into an actual increase of some 600,000 additional barrels per day, as of July.


Topics: Engineering, Oil&Gas, OPEC, Austria, Industry, Petroleum

Written by Vepica Corporate

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