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OPEC in Vienna Decides to Keep Production Unchanged

Published: June 5, 2015; 15:00 · (FriedlNews)

The Organization of the Petroleum Exporting Countries (OPEC) today hosted its 167th Meeting of the OPEC Conference at the OPEC Secretariat in Vienna. Participants included OPEC Heads of Delegation and the Secretary General. There were some expectations that the production goal of 30 million barrels a day could move higher. However, the key issue the market was looking for will remain at 30 million barrels a day.

Oil Exporters Meet at the OPEC Secretariat Vienna / Picture: © Wikipedia / Priwo

The 167th (Ordinary) Meeting of the OPEC Conference
OPEC Secretariat, Vienna, Austria
Friday, 5 June 2015
Start: ca. 09.30 CEST

Tentative Programme

10.00 hrs. Opening Session of the 167th Meeting of the Conference
Attendance: All OPEC Heads of Delegation and Delegates
Venue: OPEC Secretariat

12.00 hrs. Closed Session of the 167th Meeting of the Conference
Attendance: OPEC Heads of Delegation and the Secretary General
Venue: OPEC Secretariat

16.00 hrs. Press Conference by the President of the OPEC Conference
and the OPEC Secretary General
Venue: OPEC Secretariat

OPEC Secretariat
Helferstorferstrasse 17
A-1010 Vienna, Austria

The participants are as follows:

ALGERIA
Dr Salah Khebri
Minister of Energy

ANGOLA
Eng. José Maria
Botelho de Vasconcelos
Minister of Petroleum

ECUADOR
Eng. Pedro Merizalde-Pavón
Minister of Hydrocarbons

IR IRAN
Eng. Bijan Namdar Zangeneh
Minister of Petroleum

IRAQ
Adil Abd Al-Mahdi
Minister of Oil

KUWAIT
Dr Ali Saleh Al-Omair
Minister of Oil and
Minister of State for the
National Assembly,
Chairman of Kuwait
Petroleum Corporation

LIBYA
Abdourhman Ataher Al-Ahirish
Vice Prime Minister for Corporations and
Responsible for the Energy Sector

NIGERIA
Dr Jamila Shu’ara
Head of the Nigerian Delegation
to the 167th OPEC Conference

QATAR
Dr Mohammed Bin Saleh Al-Sada
Minister of Energy and Industry and
Alternate President of the OPEC
Conference

SAUDI ARABIA
Ali I. Naimi
Minister of Petroleum
and Mineral Resources

UAE
Suhail Mohamed
Al Mazrouei
Minister of Energy

VENEZUELA
Eng. Asdrúbal Chávez J.
Minister of Popular Power of
Petroleum and Mining

Click here to view the updated conference programme including all participants.

 

About OPEC - The Organization of the Petroleum Exporting Countries

The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on 10–14 September 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

The five Founding Members were later joined by nine other Members:

Qatar (1961);
Indonesia (1962) — suspended membership as of January 2009;
Libya (1962);
United Arab Emirates (1967);
Algeria (1969);
Nigeria (1971);
Ecuador (1973) — suspended its membership from December 1992–October 2007;
Angola (2007) and
Gabon (1975–1994).

OPEC had its headquarters in Geneva, Switzerland, in the first five years of its existence. It was then moved to Vienna, Austria, on 1 September 1965.

OPEC’s objective is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.

For more information about OPEC, please visit www.opec.org.