Qatar Petroleum has officially announced that it’s oil production levels will be reduced effective 1 January, 2017.
Mr. Saad Sherida Al-Kaabi, Qatar Petroleum President and CEO, said “this decision comes in line with the State of Qatar’s commitment to the recently agreed production levels by the members of the Organization of the Petroleum Exporting Countries (OPEC) during its ministerial meeting held on 30 November, 2016.”
“We have started advising our customers of the expected reductions in oil deliveries to ensure the State’s compliance with OPEC’s allocations,” Mr. Al-Kaabi added.
He concluded his remarks by reaffirming Qatar Petroleum’s commitment to fulfil the State of Qatar’s support of OPEC’s recent decision.