Non-Opec countries agree joint output limit

摘要

A group of 11 non-Opec countries have agreed to limit their crude production by just under 560,000 b/d for six months from January, in support of Opec's 1.2mn b/d reduction. The agreement between Opec and non-Opec countries to curb output is the first of its kind since 2001. Non-Opec suppliers that committed to cut production 15 years ago failed to meet their pledges, particularly Russia. Azerbaijan, Bahrain, Brunei, Equatorial Guinea, Kazakhstan, Malaysia, Mexico, Oman, Russia, Sudan, and South Sudan have promised to curb their oil output, voluntarily or through managed decline, in accordance with an accelerated schedule, Opec says. “The combined reduction target was agreed for the aforementioned producers” and will remain in place for six months as of 1 January, it says (see table).