OPEC+ Agrees To Exclude Condensate From Quota Calculation For Non-OPEC Members - Novak

Mohammad Ali (@ChaudhryMAli88) Published December 06, 2019 | 12:07 AM

OPEC+ countries agree to exclude condensate from the calculation of quotas in the framework of the oil output reduction deal, Russian Energy Minister Alexander Novak said Thursday

VIENNA (UrduPoint News / Sputnik - 05th December, 2019) OPEC+ countries agree to exclude condensate from the calculation of quotas in the framework of the oil output reduction deal, Russian Energy Minister Alexander Novak said Thursday.

"The recommendations that we presented have been accepted - to exclude the volume of condensate from monitoring .

.. To conduct monitoring using the methodology that exists in OPEC. OPEC does not take into account condensate, only oil is taken into account. Therefore, the same methodology will be applied for non-OPEC countries," Novak told reporters in Vienna.

"Everyone agrees," the minister added.