OPEC+ will form Alliance

ОПЕК+ получит форму альянса

It is planned that OPEC+ will be in the form of the Alliance, but OPEC will act as a supporting organization.

About it reports “UNIAN”.

According to the draft Charter, OPEC+ will not restrict the rights of countries to manage their natural resources, the duties of a legal character between members of the organization also will not arise.

Management functions-OPEC+ will implement a tripartite Committee composed of the chairmen of the previous and current years, and also selected for the following year.

To join the Alliance will be submitting the application and received the permission of all the participating countries. To leave is only permitted from January 1 next after the announcement of the decision.

In December, the OPEC countries, I took the decision in the first half of 2019 to cut oil production by 1.2 million barrels per day from October 2018.

We will remind, earlier it was reported, OPEC countries have reached a preliminary agreement on the reduction of oil production, but has not yet decided on a final figure.

It was also reported, according to European analyst Janis Papadakis, the output of Qatar from OPEC to raise oil prices and retaliate for U.S. dollar.