Oil-producing countries Discussion on whether to further increase production reduction target December 6 5:11 to maintain price

Major oil-producing countries such as Saudi Arabia and Russia have been holding meetings in Austria since the 5th to decide on future production plans. In order to maintain international crude oil prices, the daily volume is equivalent to over 1% of the world's crude oil supply. We started discussions on whether to further expand the 10,000 barrel reduction target.

OPEC = Oil Exporting Countries Organization, including Saudi Arabia, and other non-affiliated oil producing countries, such as Russia, met in Vienna, Austria for five to two days, and began discussions on future production plans.

OPEC and Russia have agreed to continue to reduce production by 1.2 million barrels a day, or more than 1% of the world's crude oil supply, until March next year. The slump in demand for crude oil is expected to continue.

According to Russia's Minister of Energy, Novak, who participates in the meeting, it agrees with Saudi Arabia and others that it will need an additional reduction of 500,000 barrels a day in the first quarter of next year to maintain prices It means that.

The first day of the general meeting of OPEC member countries started from 6th of Japan time and the second day of the meeting, which includes non-member oil-producing countries such as Russia, scheduled for the afternoon of Japan time. We will discuss whether to expand or extend the period until March next year and aim for a final agreement.

Crude oil price trends have an impact on the price of gasoline and kerosene in Japan.