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Energy

TIMELINE-OPEC's oil output changes since the 1990s

    Dec 5 (Reuters) - The following are changes in OPEC's output
targets dating from efforts to support oil prices in the late
1990s.
    The Organization of the Petroleum Exporting Countries (OPEC)
and non-OPEC producers are currently cutting output by 1.2
million barrels (bpd), with OPEC's share set at 800,000 bpd,
under a deal set to expire in March 2020.
    OPEC and its allies are holding oil policy review meetings
on Dec. 5-6 in Vienna.             
    (Volumes are in millions of barrels per day.)
    
                 Venue agreed      Adjustment       Volume
                          OPEC   (OPEC+)   OPEC
April 1998       Riyadh            -1.355           25.95
July 1998        Amsterdam/Vienna  -1.255           24.69
April 1999       The Hague/Vienna  -1.716           22.97
April 2000       Vienna            +1.716           24.69
July 2000        Vienna            +0.708           25.40
October 2000     Vienna            +0.800           26.20
November 2000    Vienna            +0.500           26.70
February 2001    Vienna            -1.500           25.20
April 2001       Vienna            -1.000           24.20
September 2001   by phone          -1.000           23.20
January 2002     Cairo             -1.500           21.70
January 2003     Vienna            +1.300           23.00
February 2003    Vienna            +1.500           24.50
June 2003        Vienna            +0.900           25.40
November 2003    Vienna            -0.900           24.50
April 2004       Algiers           -1.000           23.50
July 2004        Beirut            +2.000           25.50
August 2004      Beirut            +0.500           26.00
November 2004    Vienna            +1.000           27.00
March 2005       Isfahan           +0.500           27.50
July 2005        Vienna            +0.500           28.00
November 2006    Doha              -1.200           26.30
February 2007    Abuja             -0.500           25.80
November 2007    Vienna            +0.500           27.25
September 2008   Vienna            -0.520           28.80
October 2008     Vienna            -1.500           27.30
December 2008    Oran              -2.200           24.84
December 2011    Vienna                             30.00
December 2015    Vienna            limit scrapped
September 2016   Algiers           -0.75           32.5-33*
November  2016   Vienna            -1.2   (-1.800) 29.804**
June      2017   Vienna             n/a            29.982***
June      2018   Vienna             n/a   (+1.000) 29.982^  
December  2018   Vienna            -0.800 (-1.200) 26.026^^ 
    
*  Proposed OPEC supply cut and target
** Targets announced for 11 OPEC members amounting to a cut of
about 1.2 million bpd
*** Equatorial Guinea joined OPEC and received an output target
^  No new targets announced. Ministers said supply by the
participating OPEC and non-OPEC producers would rise by 1
million bpd. No OPEC-only increase was disclosed. 
^^ Targets announced for 11 OPEC members amounting to a cut of
about 0.8 million bpd. Volume includes amended Nigerian target
which emerged in October 2019

 (Reporting by Alex Lawler; editing by Jason Neely)
  
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