Add to favorite
 
123
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS


OPEC Extends the Agreement On Limiting Oil Production
November 7, 2017 14:56


(Source: http://oldwest.su)

The Organization of Petroleum Exporting Countries (OPEC) will extend the agreement on limiting oil production till the end of 2018.

The oil cartel and its leader - Saudi Arabia - will not increase production in the near future, the source of the agency familiar with the policy of Riyadh said. "OPEC, most likely, will not get off the chosen path until the end of 2018. We need commercial reserves to decrease," he said.

OPEC believes that next year the price ceiling for oil will be a mark of $ 60 per barrel, the source added. According to Saudi Energy Minister, Mr.  Khalid Al-Faliha, the balance of supply and demand on the world market continues to recover, and stocks of raw materials are declining.

October 26, Crown Prince of the Kingdom, Mohammed bin Salman Al Saud announced his intention to support the extension of the OPEC Treaty and independent producers on the reduction of oil production. The day before, the head of the Ministry of Energy of Russia, Alexander Novak, said that Moscow was ready to increase oil production by 3.5-4 million tons unless the contract on limiting production was extended.


Sources: http://lenta.ru 


Author: Anna Dorozhkina

Tags: Russian oil     

Next Previous

You might also find interesting:

NLMK Issues 3Q Figures Moody's Hails Stronger Russian Banks Rosneft's Q1 2014 Financials Positive But Future Uncertain S7 Applies For 24 International Destinations Russia Is One Of the Main Italian Wine Importers









Comment on our site


RSS   twitter      submit



TAGS:
Kliment Timiryazev  Milonov  Russian mobile operators  Pyotr Konchalovsky  Russian science  Russian souvenirs  Red Square  Depeche Mode  Moscow  Russian Arts and Crafts  Chinese Film Festival in Russia   Moscow Theatres  Tula Region  North Caucasus  Russian economy  Rock Music  Film Festivals  Russian Film Actors  Galina Vishnevskaya Opera Singing Center  Sochi  Russian business  Moscow Metro  Guinness Book  Exhibitions in Moscow  Regatta  Australia  Yuri Gagarin  Russian scientists  Mercedes-Benz Fashion Week Russia  St. Petersburg Museums  Russian tourism  Mikhail Yefremov  Weapon Museum  St. Petersburg  Russian people  Space Flights  A3 Gallery  Festivals in Moscow  New Films  foreign passport  Vladimir Zworykin  Ussuriysk  Russian Cinema  Photography  light industry  corruption  Birobidzhan  Sergey Polonsky  Suzdal  Vologda 


Travel Blogs
Top Traveling Sites