ANL 34.14 Decreased By ▼ -0.38 (-1.1%)
ASC 15.10 Decreased By ▼ -0.06 (-0.4%)
ASL 24.50 Decreased By ▼ -0.33 (-1.33%)
AVN 93.50 Decreased By ▼ -1.50 (-1.58%)
BOP 7.90 Increased By ▲ 0.03 (0.38%)
BYCO 10.08 Decreased By ▼ -0.23 (-2.23%)
DGKC 126.01 Decreased By ▼ -0.59 (-0.47%)
EPCL 56.85 Decreased By ▼ -0.31 (-0.54%)
FCCL 24.30 Decreased By ▼ -0.20 (-0.82%)
FFBL 27.82 Decreased By ▼ -0.14 (-0.5%)
FFL 16.55 Increased By ▲ 0.51 (3.18%)
HASCOL 9.95 Decreased By ▼ -0.07 (-0.7%)
HUBC 79.30 Decreased By ▼ -0.70 (-0.88%)
HUMNL 6.42 Decreased By ▼ -0.03 (-0.47%)
JSCL 20.12 Decreased By ▼ -0.29 (-1.42%)
KAPCO 40.27 Decreased By ▼ -0.67 (-1.64%)
KEL 3.88 Increased By ▲ 0.01 (0.26%)
LOTCHEM 16.38 Decreased By ▼ -0.86 (-4.99%)
MLCF 46.76 Decreased By ▼ -0.15 (-0.32%)
PAEL 35.90 Decreased By ▼ -0.27 (-0.75%)
PIBTL 10.45 Decreased By ▼ -0.04 (-0.38%)
POWER 9.32 Decreased By ▼ -0.03 (-0.32%)
PPL 85.00 Decreased By ▼ -0.74 (-0.86%)
PRL 25.17 Decreased By ▼ -0.54 (-2.1%)
PTC 9.73 Increased By ▲ 0.28 (2.96%)
SILK 1.21 Increased By ▲ 0.04 (3.42%)
SNGP 38.81 Decreased By ▼ -0.55 (-1.4%)
TRG 166.95 Increased By ▲ 7.34 (4.6%)
UNITY 30.50 Decreased By ▼ -0.25 (-0.81%)
WTL 1.51 Increased By ▲ 0.08 (5.59%)
BR100 4,843 Decreased By ▼ -9.04 (-0.19%)
BR30 25,716 Increased By ▲ 44.65 (0.17%)
KSE100 45,047 Decreased By ▼ -139.69 (-0.31%)
KSE30 18,448 Decreased By ▼ -36.84 (-0.2%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,501
5824hr
Pakistan Cases
725,602
458424hr
Sindh
269,126
Punjab
250,459
Balochistan
20,321
Islamabad
66,380
KPK
99,595

DUBAI: Oil producer group OPEC plans to release a table detailing output cut quotas for its members and allies such as Russia in an effort to shore up the price of crude, OPEC's secretary-general said in a letter seen by Reuters on Thursday.

Mohammad Barkindo said to reach the proposed cut of 1.2 million barrels per day, the effective reduction for member countries was 3.02 percent.

That is higher than the initially discussed 2.5 percent as OPEC seeks to accommodate Iran, Libya and Venezuela, which are exempt from any requirement to cut. He commended Saudi Arabia for pledging to cut to 10.2 million barrels per day from January, a deeper reduction than allocated.

Sources had initially said the Organization of the Petroleum Exporting Countries would not publish individual quotas.

"In the interests of openness and transparency, and to support market sentiment and confidence, it is vital to make these production adjustments publicly available," Barkindo told members in the letter.

"I would urge Your Excellencies to kindly make positive announcements reinstating your countries' commitment to implementing the agreed decisions. This is also vital to underpin trust in our decisions and to buttress ourselves from any naysayers who may doubt our commitment."

The OPEC secretariat plans to publish the table below by the end of this week, he added.

Adjustment based on the 175th Meeting of the OPEC Conference and the 5th OPEC and non?OPEC Ministerial Meeting, effective as of January 2019, in thousands of barrels per day.

Copyright Reuters, 2018