Add to favorite
 
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:      

Next Previous

You might also find interesting:

Russian Hockey Players Are Ready For World Championships Okhta-Centre: pro et contra Businessmen wanted The Central Bank Plans to Increase Russia's International Reserves Russian Banks Will Collect Biometric Data





comments powered by Disqus




Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
TAGS:
Fires  Moscow Region  poplar breeding  The Romanov Family  Saint Petersburg  Stanislav Lyubshin  Russian radio  Russian football team  golf in Russia  piracy  Universiade  Russian government  Hermitage  Cars  odd news  Sterlitamak Sheehans  Kostroma  Graffity  Australia  Russian Film Directors  Pskov Region  Memorial Boards  Tomsk  Moscow  Marilyn Monroe  Milan  International Platonov's Arts Festival  Russian Literature  Barrows  Alexander Sokurov  Bashneft  Archeology  Bele Lake  Eudoxia Luchezarnova  #OPENRUSSIANFASHION  Vitaly Solomin  Russian Cinema  Painting  Russian tourism  Russian history  Concerts in Moscow  Russian oil and gas  Joseph Stalin  Russian business  Moscow parks  Marlen Khutsiev  Mercedes-Benz Fashion Week Russia  Kirov Oblast   Irkutsk Region  Exhibitions in Moscow 


Travel Blogs
Top Traveling Sites