Major oil-producing countries Adjusted by extending and expanding the deadline for production reduction Dec. 21:20
Major oil-producing countries such as Saudi Arabia and Russia will meet the deadline for reduction of production until March next year in order to maintain international oil prices before the meeting to decide the future production plan is held from the 5th. We are starting to make full-scale adjustments for extension and reduction of production.
The OPEC = Oil Exporting Countries Organization, which includes Saudi Arabia and other non-member oil-producing countries such as Russia, will meet in Vienna, Austria from the 5th to discuss future production plans.
OPEC and non-member oil-producing countries such as Russia have agreed to continue to cut production until March next year in order to maintain the price of crude oil. As the prospect of continued sluggish growth is expected, discussions are underway to extend the deadline for production cuts and expand the scale of production cuts.
Major oil-producing countries will aim for a final agreement at a meeting that includes non-member oil-producing countries such as Russia on the 6th if a certain degree of agreement is obtained at the OPEC general meeting held in the afternoon of the local time on the 5th. The
Crude oil price trends have an impact on the price of gasoline and kerosene in Japan.