Countries Under OPEC has initiated important steps towards maintaining a stable and balanced oil market took center stage at the 36th OPEC and non-OPEC ministerial meeting held via video conference with participating countries.
OPEC Permanent Secretary, Ministry of Petroleum Resources, Amb. Gabriel Aduda disclosed this to newsmen in Abuja at the end of a virtual meeting.
Amb. Gabriel also said that the meeting addressed crucial aspects, including the completion of assessments by independent sources on the projected production levels for Angola, Congo, and Nigeria in 2024.
The Permanent Secretary said the assessments concluded production estimates at 1,110 barrels per day for Angola, 277 thousand barrels per day for Congo, and 1,500 barrels per day for Nigeria, in alignment with prior decisions set forth during the 35th Opec and non-OPEC Ministerial Meeting.
Looking ahead to the 37th OPEC and non-OPEC Ministerial Meeting coming up next year, Ambassador Aduda said the gathering would decisively dispel speculations of discord among OPEC countries regarding the acceptance of their 2024 quotas, culminating in a successful outcome that is expected to fortify market dynamics, foster stability, and foster sustainable growth within the petroleum industry.
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