Examples of using Opec in English and their translations into Vietnamese
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Colloquial
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Ecclesiastic
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Computer
a strong recovery yet, but I think Opec are implying they don't see oil demand falling any further.
A decline in Opec production and a squeeze on supply from Iran and Venezuela because of US sanctions have
Opec delegates said the leaders have given their political blessing for an agreement,
Two Opec sources said the group's secretariat in Vienna has been tasked to work on a plan with different options and it was too early now to say what the plan would look like.
In the longer term, Opec and Russia efforts to prop up prices could be undermined by US production, which has soared by more than 16 percent since mid-2016, to almost 10 million bpd.
Top Opec producer Saudi Arabia recruited Russia and other non-Opec countries
Many are still haunted by a disastrous error made at an Opec meeting in Jakarta in 1999, when the cartel- which produces more than a third of the world's oil- opted to raise its production levels.
Kuwait, another Opec member, said that oil prices were likely to remain about $65 a barrel until the middle of next year unless Opec cut output.[…]”.
Kuwait, another Opec member, said that oil prices were likely to remain about $65 a barrel untilthe middle of next year unless Opec cut output.
To help rebalance the market, Opec sources told Reuters that the supply reduction pact could be extended if all major producers showed"effective cooperation".
Trump praised leading Opec members Saudi Arabia, the United Arab Emirates and Qatar for pledging“billions of dollars to aid the people of Syria and Yemen”.
reverse prohibitions on the export of oil and other hydrocarbons, many of which date from the opec embargoes of the 1970s.
Falih and Novak have formed a close working relationship over the past two years, one that often seems to bypass Opec's more traditional decision-making process.
It seems plausible that the difference between these two regimes can be explained by the breakdown of Opec power in 1985, owing to North Sea and Alaskan oil development, causing a shift from monopolistic to competitive pricing.
But it's not just traders- we have seen indications from Opec and Russian oil companies that even they think going above $60 a barrel right now would be too much
Traders said that even at an Opec compliance of 90%, and a much lower rate for non-Opec members, producers would have to accelerate
In 1986, the oil price more than halved after Opec failed to control supply, triggering a global
Saudi Oil Minister Khalid Al-Falih has also sounded increasingly hawkish in public, suggesting that Opec should keep tightening the oil market even though the cartel is close to meeting its goal of cutting crude inventories in industrialised countries back to their five-year average.
Yet, some Opec sources who spoke to Reuters said the change in Saudi thinking and tactics has“upset” some of its Gulf allies
Libya and Nigeria were invited to send representatives to the next meeting of the Opec and non-Opec Joint Technical Committee in Russia later this month to discuss their production, according to Al Ghais, who chairs the committee.