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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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    OPEC: Russia has united ranks of oil producers to cut output

    Rocky
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    • Post n°1

    OPEC: Russia has united ranks of oil producers to cut output Empty OPEC: Russia has united ranks of oil producers to cut output

    Post by Rocky Thu 01 Jun 2017, 2:13 am

    OPEC: Russia has united ranks of oil producers to cut output

    economy Since 2017-05-31 at 16:47 (Baghdad time)

    Mawazine News - Follow up
    OPEC Secretary-General Mohamed Barkindo announced that Russia's political will helped oil producing countries within and outside OPEC to overcome difficulties and agree to cut output.
    In December, Russia and 10 non-Opec members agreed to participate in production cuts implemented by the organization for the first time in 15 years.
    Last week OPEC and non-member producers led by Moscow decided to extend the 1.8 million bpd cuts for an additional nine months until March 2018.
    "When I took up my duties last year, OPEC had internal problems, and we had difficulties in cooperating with non-OPEC members. It was the most difficult time in 40 years, but thanks to the political will of Russia we united the ranks within OPEC. For OPEC, it was a historic decision. "
    Barkindo's words during his meeting in Moscow were Russian Prime Minister Dmitry Medvedev. The Secretary-General of the Organization "OPEC" the Russian capital to participate in the meeting of the Joint Control Committee between the "OPEC" and independent producers.
    The cooperation between Russia and OPEC entered a new phase last year after reaching an agreement to cut production of oil, which is the first agreement in 15 years between the organization and Russia, which is not a member.
    He stressed that cooperation between the Organization and independent producers will continue after the current agreement to reduce production, and said: "We do not expect separation in this marriage .. It is like a Catholic marriage."
    Last year, OPEC lived in a different position between Saudi Arabia and Iran, members of the Organization. These differences were behind the Organization's failure to take a unified stance on production levels.
    But the crucial role played by Russian President Vladimir Putin in mediating between the two countries has contributed, according to sources in the oil sector, to put aside the differences and conclude the oil agreement.


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