{"id":82399,"date":"2023-02-02T11:18:00","date_gmt":"2023-02-02T11:18:00","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/opec-agrees-to-stick-to-current-production-scheme"},"modified":"2023-02-02T11:30:16","modified_gmt":"2023-02-02T11:30:16","slug":"opec-agrees-to-stick-to-current-production-scheme","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/opec-agrees-to-stick-to-current-production-scheme","title":{"rendered":"OPEC+ agrees to stick to current production scheme"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>OPEC and allies, known as OPEC+, agreed on Wednesday to adhere to its current production policy.<\/p>\n

The decision came at the group\u2019s 47th Joint Ministerial Monitoring Committee (JMMC) videoconference meeting.<\/p>\n

The ministers of oil-producing countries decided to continue cutting oil output by 2 million barrels per day until the end of 2023.<\/p>\n

The group\u2019s next ministerial meeting is scheduled for April 3.<\/p>\n

OPEC+ previously reduced daily crude oil production by approximately 10 million barrels in April 2020 due to the sharp decline in demand owing to the COVID-19 pandemic.<\/p>\n

As global economies and oil demand started to recover, the group started gradually increasing output from April 2021.<\/p>\n

However, OPEC+ started to reduce production as of October with a view of \u201cstabilizing global oil markets.\u201d<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. OPEC and allies, known as OPEC+, agreed on Wednesday to adhere to its current production policy. The decision came at the group\u2019s 47th Joint Ministerial Monitoring Committee (JMMC) videoconference meeting. The ministers of oil-producing countries decided to continue cutting oil output by 2 million barrels per day until the end of 2023. […]<\/p>\n","protected":false},"author":84,"featured_media":82398,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-82399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nOPEC+ agrees to stick to current production scheme - kenya<\/title>\n<meta name=\"description\" content=\"OPEC and allies, known as OPEC+, agreed on Wednesday to adhere to its current production policy. 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