OPEC quotas: Libreville's oil cartel snub leaves output almost unscathed

摘要

The drop in Gabon's 2020 oil productionwill not be as drastic as the finance lawamendment predicted last June. In itsbriefing published earlier this monthcovering the first nine months of 2020, theDirectorate-General for Economics andFiscal Policy - which monitors keyeconomic sectors - stated that the "late andtimid" implementation of quotas imposedby the Organization of Petroleum ExportingCountries (OPEC) allowed Libreville tolimit the decline to 2%, against the 5%initially anticipated. Production in 2020 isexpected to be around 10.7m tonnes, just0.2m tonnes less than in 2019 (10.9mtonnes, or 220,000 bpd).