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LONDON, United Kingdom - OPEC + is working on a complex deal to be agreed at its meeting on Sunday that will allow the group to extend some of its deep oil production cuts into 2025, three sources familiar with OPEC + discussions said on Thursday. OPEC + has made a series of cuts since late 2022 amid rising output from the United States and other non-members, and worries over demand as major economies grapple with high interest rates.
The extension of some cuts into 2025 will likely be made conditional on OPEC+ agreeing new individual member output capacity figures later in 2024, two of the sources said.OPEC+ is trying to agree new oil production capacity for its member countries by the end of 2024, an issue that has created tensions in the past because each nation's output target is calculated from its notional capacity.
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Discover the future of refrigeration and electronics at Bangkok RHVAC 2024 & Bangkok E&E 2024Thailand is now ready to stage Bangkok RHVAC 2024 and Bangkok E&E 2024, the largest trade show in Southeast Asia for refrigerators, air-conditioners, electrical and electronic products under this year’s theme “ONE STOP SOLUTION for NET ZERO Future” in Bangkok this September.
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Bangkok RHVAC 2024 and Bangkok E&E 2024: ONE STOP SOLUTION for NET ZERO FutureDefining the News
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BossJob announces Merged 2024 Job Fair in July 2024Defining the News
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GAME SCHEDULE: Philippine women’s volleyball team in AVC Challenge Cup 2024The Philippine women’s volleyball team, now nicknamed Alas Pilipinas, takes on higher-ranked foes in the preliminary round of the AVC Challenge Cup
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LIST: Philippine tropical cyclone names in 2024From Aghon to Zosimo, here are the names for tropical cyclones that will form within or enter the Philippine Area of Responsibility in 2024
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Brewing again: Philippine Coffee Expo 2024 returns in JuneCoffee lovers, local industry players, and over 70 booths will gather for the 3-day event that celebrates the Philippines' rich coffee heritage
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