| The following are changes in oil output limits by the Organization of the Petroleum Exporting Countries, dating from efforts in the late 1990s to prop up prices. Three OPEC countries - Saudi Arabia, Qatar and Venezuela - plus non-OPEC Russia, agreed on Tuesday to freeze output but said the deal was contingent on other producers joining in.
OPEC does not currently have a production target. At its December 2015 meeting, the group scrapped the previous limit of 30 million barrels per day (bpd) that had applied to all of its then 12 members for four years. There are now 13 OPEC countries. Indonesia reactivated its OPEC membership at the same December 2015 meeting...............................................Full Article: Source
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