Examples of using Opec in English and their translations into Chinese
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Political
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Ecclesiastic
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Programming
Yes, Opec provided some of the additional supply last year, but the majority of this has come from non-Opec countries.
The initiative was supported by about 15 Opec and non-Opec producers, accounting for about 73% of global oil production, the minister said.
The United States, China and India had urged Opec to release more supply to prevent an oil deficit that would hurt the global economy.
Opec plans to meet on Nov. 30 to assess the market and its production policy.
As for the next meeting of Opec and our position, nothing has changed.
A joint Opec and non-Opec communique said the next meeting in June 2018 would present an opportunity to adjust the agreement based on market conditions.
Saudi Arabia controls 10 per cent of global oil production and has accounted for nearly a third of Opec's output over the past 60 years.
Opec plans to meet on Nov. 30 to assess the market and its production policy.
Opec and non-Opec producers will meet on Saturday to iron out details of the pact and then again in September to review the deal.
This was clear on Friday when the Opec President and UAE oil minister Suhail Al Mazrouei struggled to present what was a vaguely worded statement.
Barkindo said Opec aimed to balance supply and demand and had helped the United States by rescuing its oil industry from ultra-low oil prices.
Opec 2017 year-to-date exports are only down by 300,000 barrels per day from the October 2016 baseline", analysts at AB Bernstein said.
Gary Ross, a veteran Opec janitor and founder of Black Gold Investors, said that he first met Prince Abdulaziz in the early 1980s.
But after hours of talks, Iran gave Opec the green light and Russia said it was ready to cut more.
It didn't really work, so Opec and a few other producers cut production hoping to revive prices.
He said:“Opec and Opec nations are, as usual, ripping off the rest of the world, and I don't like it.
Opec and Russia have demonstrated resolve and laid the groundwork for long-term market management, which could keep supply off the market for years to come.
Gary Ross, a veteran Opec watcher and founder of Black Gold Investors, said he first met Prince Abdulaziz in early 1980s.
Faced with weak demand, Opec cut production late in 2006 for the first time in nearly two years.
What has brought Opec and Russia together in recent years has been their mutual concern at the vast growth of the US shale oil industry.