Crise e pandemia gera reunião de emergência da Opep+ para discutir corte na produção global de petróleo

Crisis And Pandemic Prompt Emergency OPEC+ Meeting To Discuss Global Oil Production Cuts

Written by Flavia Marinho

Published on 09/04/2020 at 14:31

Updated on 09/04/2020 at 15:02

Crise e pandemia gera reunião de emergência da Opep+ para discutir corte na produção global de petróleo

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As a way to combat the effects of the coronavirus, which has greatly affected oil demand, an emergency meeting of OPEC+ is scheduled for this afternoon (9), bringing together OPEC (Organization of the Petroleum Exporting Countries), led by Saudi Arabia, and other producing nations, including Russia and Brazil. Petrobras Will Cut Gas Purchases from Enauta and PetroRio in the Manati Field, Bahia.

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Former allies, the Saudis and Russians broke their partnership in early March when Riyadh proposed a global oil production cut to stabilize prices amid the decline in demand caused by the pandemic. The proposal was rejected by Moscow. In response, the Saudis increased production and began selling their oil at a discount, further driving down global prices.

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G-20 – Discussion on Oil Price Shock

Another meeting is scheduled for Friday, this time under the G-20 framework, also to discuss the price shock. The Minister of Mines and Energy confirmed his presence at the meeting with representatives from G-20 countries G-20 and has been in contact with authorities from Saudi Arabia and the United States.

Members of the international oil cartel have communicated to Brazilian authorities that any final agreement on how much OPEC and its allies will cut will substantially depend on how much Brazil, the United States, and Canada are willing to contribute.

The Brazilian minister spoke on Sunday with his Saudi counterpart, Prince Abdulaziz bin Salman Al Saud. According to the ministry, the prince asked if Brazil would “be inclined to join the international coordination effort in seeking mechanisms that contribute to the stabilization of the international oil market.”

There is no forecast for when the coronavirus pandemic will stabilize. The estimate is that, due to the spread of the virus, global demand for oil may decrease by up to 25 million barrels per day, which corresponds to a quarter of consumption in normal times.

Crisis And Pandemic Prompt Emergency OPEC+ Meeting To Discuss Global Oil Production Cuts

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G-20 – Discussion on Oil Price Shock

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Rice in space becomes a scientific bet for China to understand how microgravity can alter the genetics of the most important grain for Asian food security and reveal if future generations of the plant can be born, grow, and maintain their biological identity away from Earth.

How much would a Toyota Hilux cost without tax in Brazil? A diesel pickup truck priced at R$ 250,000 could drop to around R$ 127,000, showing why pickup trucks have become a luxury product in the country.

Windows without a prison-like appearance gain momentum in 2026 and promise to completely transform residential facades with more natural lighting, discreet security, increased property value, and a modern look without the burden of the old iron bars that dominated Brazilian homes for decades.

The largest precious metals mine under construction in the world is situated on a layer of ore 25 times thicker than common mines in South Africa, and has just connected a third shaft that will quintuple the extraction of platinum, palladium, and gold.

Neither human nor dinosaur: ancestral skeleton nearly 1,000 years old found on eroded road in Australia intrigues archaeologists by the way it was buried

Crisis And Pandemic Prompt Emergency OPEC+ Meeting To Discuss Global Oil Production Cuts

Read Also

G-20 – Discussion on Oil Price Shock

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

While Brazil sits on the pre-salt and still imports diesel, Turkey, which produces almost no oil, crossed half the world to drill 7,500 meters below the sea in Somalia in search of its own fuel.

Why didn’t oil reach $150 even after three months of the Strait of Hormuz being closed?

Farmer drills well in Ceará in search of water, accidentally finds crude oil and sees million-dollar discovery hindered by a rule that completely changes the future of the site.

Family finds oil on a 49-hectare site in Ceará, but exploration has no timeline or guarantee of happening

When drilling an artesian well, a farmer wanted water but found oil: ANP confirms that the dark liquid found by a farmer on a site in Ceará is crude oil.

Rice in space becomes a scientific bet for China to understand how microgravity can alter the genetics of the most important grain for Asian food security and reveal if future generations of the plant can be born, grow, and maintain their biological identity away from Earth.

How much would a Toyota Hilux cost without tax in Brazil? A diesel pickup truck priced at R$ 250,000 could drop to around R$ 127,000, showing why pickup trucks have become a luxury product in the country.

Windows without a prison-like appearance gain momentum in 2026 and promise to completely transform residential facades with more natural lighting, discreet security, increased property value, and a modern look without the burden of the old iron bars that dominated Brazilian homes for decades.

The largest precious metals mine under construction in the world is situated on a layer of ore 25 times thicker than common mines in South Africa, and has just connected a third shaft that will quintuple the extraction of platinum, palladium, and gold.

Neither human nor dinosaur: ancestral skeleton nearly 1,000 years old found on eroded road in Australia intrigues archaeologists by the way it was buried