OPEC daily basket price Monday, 17 October 2016

OPEC daily basket price Monday, 17 October 2016

The price of OPEC basket of fourteen crudes stood at $48.22 a barrel on Monday, compared with $48.63 the previous Friday, according to OPEC Secretariat calculations.

    OPEC, non-OPEC countries hold “constructive” talks in Istanbul

Five Members of OPEC and two non-OPEC countries held “constructive” informal consultations on the sidelines of the 23rd World Energy Congress (WEC) here on Wednesday.
Oil and Energy Ministers from OPEC Member Countries Algeria, Gabon, Qatar, the United Arab Emirates (UAE) and Venezuela, were joined in the talks by Russian Energy Minister and Mexican Deputy Energy Minister.
OPEC Conference President, HE Dr. Mohammed Bin Saleh Al-Sada, who is Qatar’s Minister of Energy and Industry, said after the talks that participants had agreed to invite key non-OPEC countries to participate in the High-Level Committee set-up by the Algiers accord.

    EU and OPEC hold Roundtable on Prospective for Future Production of Non-Crude Liquids

The European Union (EU) and the Organization of the Petroleum Exporting Countries (OPEC) held a joint Roundtable on Prospective for Future Production of Non-Crude Liquids in Brussels, Belgium, on 14 October 2016.
The event was co-chaired by Erlendas Grigorovic, Acting Head of Unit for the European Commission’s Directorate General for Energy and Oswaldo Tapia, Head of OPEC’s Energy Studies Department and Officer in Charge of the Research Division.
The roundtable is part of the formal EU-OPEC Energy Dialogue, which was established in 2005 to promote the exchange of views on energy issues of common interest, including oil market developments, and the potential this has for contributing to stability, transparency and predictability in the market.
The energy dialogue has already achieved significant progress in enhancing understanding between the two groups on key energy issues through the organization of joint activities, such as workshops, studies and roundtables, which, combined, have resulted in deeper insights into important topics of mutual interest . This Roundtable on Prospective for Future Production of Non-Crude Liquids is the latest such initiative.
Source: OPEC
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