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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Russia to cut oil output in support of OPEC deal

    Rocky
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    • Post n°1

    Russia to cut oil output in support of OPEC deal Empty Russia to cut oil output in support of OPEC deal

    Post by Rocky Sat 12 Jan 2019, 1:31 am

    Russia to cut oil output in support of OPEC deal Thumbs_b_c_cf7fc373c763f688df0e6e3fe5a38699_759269274
    Russia to cut oil output in support of OPEC deal

    Russian Energy Minister Alexander Novak announced that his country had cut its oil production in January by more than 30,000 barrels a day under the OPEC + agreement.
    "The reduction so far is equivalent to just over 30,000 bpd, compared to the October 2018 level, which is a preliminary figure," Novak said.
    "We are cutting production, and it is planned to reduce this month by 50 thousand barrels per day," according to the agency "Tass" Russian.
    Novak said that "the date of the next ministerial meeting of OPEC countries has not yet been determined, and is likely to be held in April."
    Crude oil markets are on the rise due to increased production and fluctuating demand due to forecasts of slower global growth for the next two years and next, pushing prices down from an average of $ 86 in October to around $ 60 for Brent crude.
    OPEC +, a member of the Organization of the Petroleum Exporting Countries (OPEC), and two independent producers led by Russia.
    OPEC began implementing a new agreement to reduce oil production by about 1.2 million barrels per day (bpd) starting in early 2019 for six months.

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