Main oil producing countries decided to reduce production slightly in October

Xinhua News Agency, Vienna, September 5th (Reporter Liu Xinyu) Organization of the Organization of the Petroleum Exporting Countries (OPEC) and the non -OPEC oil country held the 32nd Ministerial Meeting on the 5th to decide to reduce the production slightly in October, and the monthly output of the month will be Averaged 100,000 barrels a day. This is the first time the main oil -producing country has downgraded the monthly output since August 2021.

In a statement issued after the meeting, OPEC stated that, given the consensus of the current fundamental and future direction of the crude oil market, the meeting made a decision to reduce production. The participating countries also requested the chairman of the meeting to consider that when necessary, the OPEC and non -OPEC oil -producing nation -based ministerial conference can be held at any time to cope with changes in the crude oil market.

OPEC and non -OPEC oil -producing countries usually hold a ministerial meeting every month to determine the output target next month.

Recently, as the market is concerned about the world's economic prospects, international crude oil prices have fallen down. The main contract price of New York crude oil futures has fallen from more than 120 US dollars per barrel in June this year to about $ 90 per barrel at the present, and has fallen to the level before the Ukraine crisis. London's Brent crude oil futures prices also show similar trends.

In April 2020, due to factors such as the new crown epidemic impacting oil demand, OPEC and non -OPEC oil producing countries reached an agreement to reduce production. In July 2021, OPEC and non -OPEC oil -producing countries decided to gradually increase their monthly output from the market from August that year.

On the day of the meeting, OPEC and the 33rd Ministerial Meeting of the Non -OPK -produced oil country will be held on October 5.

[Editor in charge: Feng Li]

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