The OPEC and participating non-OPEC oil producing countries have reaffirmed the decision of the 10th OPEC and non-OPEC Ministerial Meeting on April 12, 2020 and further endorsed in subsequent meetings, including the 19th OPEC and non-OPEC Ministerial Meeting on July 18, 2021.
The statement issued by OPEC Secretariat after the 21st OPEC and non-OPEC Ministerial Meeting held via videoconference on Monday, October 4, 2021, said that the meeting reconfirmed the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of November 2021, as per the attached schedule.
The meeting also reiterated the critical importance of adhering to full conformity and to the compensation mechanism taking advantage of the extension of the compensation period until the end of December 2021.
“Compensation plans should be submitted in accordance with the statement of the 15th OPEC and non-OPEC Ministerial Meeting,” the statement said, adding that the 22nd OPEC and non-OPEC Ministerial Meeting has been scheduled for November 4, 2021.
November 2021: Required Production:-
Algeria -952
Angola – 1377
Congo – 293
Equatorial Guinea – 115
Gabon – 168
Iraq – 4193
Kuwait 2532
Nigeria – 1649
Saudi Arabia 9913
UAE – 2855
Azerbaijan 647
Bahrain 185
Brunei – 92
Kazakhasm – 1540
Malaysia – 537
Mexico – 1753
Oman – 796
Russia – 9913
Sudan – 68
South Sudan – 117
OPEC – 10 – 24047
NON – OPEC – 15647
OPEC+ – 39694
GIK/APA