Out of bounds
Russia cut oil production 300 thousand b / d end of April the current
Russian Energy Minister Alexander Novak said on Wednesday that Russia will cut its crude oil production of 300 thousand barrels per day by the end of this April , as agreed with other top producers.
Russia joined with some other non - member countries in OPEC to the Organization 's efforts led to the reduction of oil production for six months in order to raise global crude prices.
The reduction coincided with the decision of the willingness of some Russian companies to increase their production after years of investment in drilling new fields. But Novak told journalists that there were no complaints from companies regarding the reduction of global oil production agreement.
decline in producer price inflation in China in March
declined producer price inflation in China for the first time in seven months in March with a decline in iron ore and coal prices under fears of insufficient domestic demand to absorb the strong increase in the supply of steel.
The producer price index increased 7.6 percent from a year ago in line with economists ' expectations and after 7.8 percent increase in the previous month.
National Bureau of Statistics said on Wednesday that the consumer price index rose 0.9 percent from a year ago in a slight increase from February when they rose 0.8 percent, but was slightly below analysts ' expectations.
Analysts had expected a rise in consumer price inflation in March to one percent remain within the range considered by the central bank is safe to allow the bank to continue monetary tightening without prejudice to the gradual growth of the economy.
America accuses South Korea of dumping in oil production pipeline and the
US Commerce Department said it concluded after an administrative review of that steel producers in South Korea sinking market products pipes used in the oil and gas extraction and it responded by imposing fees between 2.76 and 24.9 percent.
The ministry said in a statement that it "exercised its authority under the umbrella of Congress for the first time to address market distortions in the production of foreign goods and the calculation of dumping margins in a manner taking unfair pricing practices for foreign exporters into account more accurately."