News 2020

OPEC daily basket price stood at $42.07 a barrel Thursday, 17 September 2020

18 Sep 2020 | Vienna, Austria, 18 September 2020--The price of OPEC basket of thirteen crudes stood at $42.07 a barrel on Thursday, compared with $41.29 the previous day, according to OPEC Secretariat calculations. (View Archives).

OPEC to hold special workshop on energy and information technology

27 Aug 2020 | Vienna, Austria, 27 August 2020--The OPEC Secretariat will host the Second Workshop on Energy and Information Technology on Monday, 21 September 2020, via videoconference.

IHS Markit interviews OPEC Secretary General on oil market developments

09 Jul 2020 | Vienna, Austria, 9 July 2020--OPEC Secretary General, HE Mohammad Sanusi Barkindo, was interviewed by Carlos Pascual, Senior Vice President at IHS Markit, to discuss the conditions and recent developments in the global oil market.

OPEC holds special workshop on secondary sources for oil data

09 Jul 2020 | Vienna, Austria, 9 July 2020--The OPEC Secretariat today held a technical workshop via videoconference with industry experts from select agencies that provide data from secondary sources to OPEC. The exchange aimed to share valuable insights and views among stakeholders on current oil market developments.

OPEC Secretary General welcomes new OPEC President

06 Jul 2020 | Vienna, Austria, 6 July 2020--OPEC Secretary General, HE Mohammad Sanusi Barkindo, today held an online meeting with HE Abdelmadjid Attar, Algeria’s newly appointed Minister of Energy and President of the OPEC Conference, to discuss global oil market developments and the progress made in implementing the recent decisions of the OPEC Conference and the OPEC and non-OPEC Ministerial Meetings.

OPEC Secretary General participates in high-level roundtable on Africa’s energy sector

30 Jun 2020 | Vienna, Austria, 30 June 2020--OPEC Secretary General, Mohammad Sanusi Barkindo, today participated in an African Ministerial Roundtable to discuss the impacts of the COVID-19 pandemic on Africa’s energy sector, as well as emerging challenges and opportunities. The roundtable was co-hosted by Senegal’s Ministry of Petroleum and the International Energy Agency (IEA).

HE Barkindo participates in a webinar hosted by the Canada-UAE Business Council

29 Jun 2020 | Vienna, Austria, 29 June 2020--OPEC Secretary General, HE Mohammad Sanusi Barkindo, together with HE Suhail Mohamed Al Mazrouei, UAE’s Minister of Energy and Industry, and HE Jason Kenney, Premier of Alberta, Canada, participated in a webinar dialogue session hosted by the Canada-UAE Business Council to discuss the ‘Energy issues in the post-COVID-19 world’.

OPEC Secretary General holds video meeting with Brazil’s Minister of Energy

22 Jun 2020 | Vienna, Austria, 22 June 2020--OPEC Secretary General, Mohammad Sanusi Barkindo, today met with Bento Albuquerque, Minister of Energy of Brazil, via videoconference to discuss recent oil market developments and the landmark decisions reached at the recent OPEC and non-OPEC Ministerial Meetings, as well as the outcome of the Emergency Meeting of the G20 Energy Ministers.

OPEC to host special technical workshop “OPEC at 60”

17 Jun 2020 | Vienna, Austria, 17 June 2020-- The OPEC Secretariat will kick off the commemoration of its diamond anniversary by hosting a special technical workshop, titled “OPEC at 60”, on Tuesday, 23 June 2020, via videoconference.

OPEC Secretary General welcomes new Iraqi Oil Minister

17 Jun 2020 | Vienna, Austria, 17 June 2020--OPEC Secretary General, HE Mohammad Sanusi Barkindo, held a webinar meeting with Iraq’s new Oil Minister, HE Ihsan Abdul Jabbar Ismaael, to welcome the Minister to OPEC and discuss oil market developments and the outcome of the June Ministerial Meetings.

OPEC’s Secretary General holds video meeting with Colombia’s Mines and Energy Minister

15 Jun 2020 | Vienna, Austria, 15 June 2020--OPEC Secretary General, HE Mohammad Sanusi Barkindo, held a bilateral webinar meeting today with HE María Fernanda Suárez Londoño, Minister of Mines and Energy of Colombia.

OPEC Secretary General holds video meeting with Norway’s Minister of Petroleum and Energy

15 Jun 2020 | Vienna, Austria, 15 June 2020-- HE Mohammad Sanusi Barkindo, OPEC Secretary General, held a bilateral meeting via webinar with HE Tina Bru, Norway’s Minister of Petroleum and Energy. Topics include COVID-19’s impact on the global economy and oil market, the G20 Extraordinary Energy Ministers Meeting, and recent OPEC/non-OPEC Ministerial Meetings. Norway is a key non-OPEC producing country that has had a long and outstanding relationship with OPEC.

OPEC Secretary General holds video meeting with Alberta’s Energy Minister

10 Jun 2020 | Vienna, Austria, 10 June 2020--OPEC Secretary General, HE Mohammad Sanusi Barkindo, held a bilateral meeting with HE Sonya Savage, Minister of Energy for Alberta, Canada, via videoconference to discuss oil market developments and the historic decisions reached at the 11th OPEC and non-OPEC Ministerial Meeting held on 6 June 2020.

New Oil Minister confirms Iraq’s full commitment to OPEC and non-OPEC decisions

09 Jun 2020 | Vienna, Austria, 9 June 2020--Iraq’s new Minister of Oil, HE Ihsan Abdul Jabbar Ismaael, confirmed in a phone call with HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy and Chairman of the OPEC and non-OPEC Ministerial Meeting, his country’s full commitment to the decisions taken at the 11th OPEC and non-OPEC Ministerial Meeting held on Saturday, 6 June 2020.

Iraq renews its full commitment to OPEC+ decisions

06 Jun 2020 | Vienna, Austria, 6 June 2020--Iraq has renewed its full commitment to the oil production adjustments decisions reached in April 2020 by OPEC Members Countries and non-OPEC oil producing countries participating in the Declaration of Cooperation, noting the importance of team spirit and joint efforts to achieve stability and balance in the global oil market.

The 7th Technical Meeting of OPEC and non-OPEC Countries of the DoC convenes via videoconference

04 Jun 2020 | Vienna, Austria, 4 June 2020--The Technical Meeting of OPEC and non-OPEC Countries participating under the Declaration of Cooperation (DoC) is convening for the 7th time, via videoconference in Vienna.

The 133rd Meeting of the Economic Commission Board convenes via webinar

03 Jun 2020 | Vienna, Austria, 3 June 2020--The 133rd Economic Commission Board (ECB) of OPEC has convened by Webinar in Vienna. The ECB is the economic and technical statutory think-tank of the Organization. It meets routinely before the ordinary Ministerial Conference held biannually in June and December. The Board comprises of the Secretary General as the Chairman and National Representatives as members.

OPEC Secretary General holds a bilateral meeting with India’s Minister for Petroleum and Natural Gas

03 Jun 2020 | Vienna, Austria, 3 June 2020--HE Mohammad Sanusi Barkindo, OPEC Secretary General, held a bilateral meeting with HE Dharmendra Pradhan, India’s Minister for Petroleum and Natural Gas, via videoconference to discuss the importance of the OPEC-India partnership and further ways to strengthen dialogue in the face of current challenges.

OPEC Secretary General welcomes new Venezuelan Minister

27 May 2020 | Vienna, Austria, 27 May 2020--OPEC Secretary General, HE Mohammad Sanusi Barkindo, and HE Tareck El Aissami, Venezuela’s People's Minister of Petroleum, held a videoconference meeting today to welcome the minister to OPEC and discuss recent oil market developments and the upcoming June ministerial meetings.

Energy Minister: Alberta reduces oil production by around 1 mb/d, praises OPEC+ agreement

27 May 2020 | Vienna, Austria, 27 May 2020--The Minister of Energy for Alberta, Canada, HE Sonya Savage, supported the OPEC+ production adjustment agreement in April to battle COVID-19 demand destruction, and added that her province has reduced oil output by about 1 mb/d due to market forces.

Texas Railroad Commissioner: DoC adjustments bring stability to an energy market ‘in drastic need of it’

26 May 2020 | Vienna, Austria, 26 May 2020--Ryan Sitton, the Texas Railroad Commissioner who urged his state to adjust oil production, has praised the ‘Declaration of Cooperation’ (DoC) participating countries for their swift efforts to stabilize the global oil market.

Equatorial Guinea fully implements voluntary production adjustment commitments

18 May 2020 | Vienna, Austria, 18 May 2020--Equatorial Guinea announced that it has fully adjusted its oil production in accordance with its commitment to oil market stability and the agreements reached at the 9th and 10th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on 9 and 12 April respectively, via videoconference.

Letter of condolence on the passing of IR Iran’s OPEC Governor

16 May 2020 | Vienna, Austria, 16 May 2020--OPEC Secretary General, Mohammad Sanusi Barkindo, today sent a letter of condolence to HE Eng. Bijan Namdar Zanganeh, Minister of Petroleum of the Islamic Republic of Iran, following the passing away of Hossein Kazempour Ardebili, the country’s veteran representative to the OPEC Board of Governors.

Algeria fully implements the voluntary adjustment agreement reached in April

15 May 2020 | Vienna, Austria, 15 May 2020--Algeria has confirmed that it has fully adjusted its oil production as part of its commitment to oil market stability and the agreements reached at the 9th and 10th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on 9 and 12 April respectively via videoconference.

Iraq is committed to the production adjustment agreement reached in April – Acting Oil Minister

14 May 2020 | Vienna, Austria, 14 May 2020--Iraq’s Minister of Finance and Acting Oil Minister, Dr Ali Alawi, emphasised in a statement Iraq’s commitment to the voluntary production adjustment agreement reached at the 9th and 10th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on 9 and 12 April respectively via videoconference.

Energy Ministers of Saudi Arabia and the Russian Federation discuss oil market developments

13 May 2020 | Vienna, Austria, 13 May 2020--HRH Prince Abdul Aziz Bin Salman, Minister of Energy of the Kingdom of Saudi Arabia, and HE Alexander Novak, Minister of Energy of the Russian Federation, held a phone call as part of their regular consultations on oil market developments and issued a joint statement.

OPEC President calls for full implementation of production adjustment agreement reached in April

01 May 2020 | Vienna, Austria, 1 May 2020--HE Mohamed Arkab, Algeria’s Minister of Energy and President of the OPEC Conference, has called on OPEC Members and non-OPEC oil producing countries participating in the Declaration of Cooperation to fully implement the agreements reached at the 9th and 10th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on 9 and 12 April respectively via videoconference.

Azerbaijan announces major oil production adjustments

01 May 2020 | Vienna, Austria, 1 May 2020--Azerbaijan’s state oil company SOCAR announces  major oil production adjustment plans for 2020, 2021 and 2022 as part of Azerbaijan’s commitments to the voluntary production adjustment agreement reached at the 9th and 10th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on the 9th and 12th of April respectively via videoconference.

ADNOC informs its customers of its production adjustment plans for May and June 2020

30 Apr 2020 | Vienna, Austria, 30 April 2020--Abu Dhabi National Oil Company (ADNOC) has notified its customers in a letter of its plans to voluntarily adjust its crude oil production in May and June 2020.

KPC informs customers of a new reduction in crude oil contractual volumes

30 Apr 2020 | Vienna, Austria, 30 April 2020--Kuwait Petroleum Corporation has informed its customers of a 22% reduction in their crude oil contractual volumes from July until December 2020, following reductions already made for May and June 2020, according to a letter sent by KPC to its customers.

Norway adjusts its oil production to support oil market stability

30 Apr 2020 | Vienna, Austria, 30 April 2020--Norway has announced its plans to voluntarily adjust its production of crude oil to accelerate the stabilisation process in the global oil market, in light of the outbreak of COVID-19 and its impact on the global economy and oil demand.

OPEC hosts series of energy round table with reputable international institutions

30 Apr 2020 | The OPEC Secretariat has been hosting a series of energy round tables with select experts from international institutions, the oil industry and the financial community following two Extraordinary OPEC and non-OPEC Ministerial Meetings held via videoconference on 9 and 12 April.

Oman announces its oil production adjustment plans effective 1 May 2020

27 Apr 2020 | Vienna, Austria, 27 April 2020—HE Dr Mohammed Bin Hamad Al-Rumhy, Minister of Oil and Gas of the Sultanate of Oman, notified HE Mohammad Sanusi Barkindo, OPEC Secretary General, of the Sultanate's plans to voluntarily adjust oil production as part of its commitment to the Declaration of Cooperation.

Kuwait starts adjusting its oil production before May 1

23 Apr 2020 | HE Dr Khaled Ali Al-Fadhel, Kuwait’s Minister of Oil, Minister of Electricity and Water, and Chairman of the Board of Kuwait Petroleum Corporation (KPC), confirmed that the State of Kuwait has begun adjusting its oil production as part of its commitment in the Declaration of Cooperation to support the stability of the global oil market.

OPEC Secretary General extends his condolences to President Buhari

19 Apr 2020 | OPEC Secretary General, HE Mohammad Sanusi Barkindo, extended his deepest condolences to HE Muhammadu Buhari, President of Nigeria, and its people for the tragic death of HE Mallam Abba Kyari, Nigeria's Chief of Staff, in a letter.

Saudi Aramco supplies 8.5 million bpd of oil as of May 1

17 Apr 2020 | Saudi Aramco will supply its customers with 8.5 million barrels per day of crude oil as of May 1, the company said in a statement.

Ministers of Energy of Saudi Arabia and the Russian Federation discuss the oil market situation

16 Apr 2020 | HRH Prince Abdul Aziz Bin Salman, Minister of Energy of the Kingdom of Saudi Arabia, and HE Alexander Novak, Minister of Energy of the Russian Federation, held a constructive phone call as part of their regular consultations on the oil market situation and issued a joint statement.