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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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Russian minister: OPEC agreement damaged the economy of our country

rocky
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Russian minister: OPEC agreement damaged the economy of our country Empty Russian minister: OPEC agreement damaged the economy of our country

Post by rocky Fri 24 Nov 2017, 3:16 am

Russian minister: OPEC agreement damaged the economy of our country






2017/11/23 19:56


(Encyclopedia of this Day News | Iraq News ) - Direct: Minister of the Russian economy that the growth in his country during themonth of October last, negatively affected by the agreement between OPEC members and Moscow on the reduction of oil production.

"Because of the Opec agreement, we were directly affected by a ceiling on oil production, as well as indirect effects related to the decline in investment activity," Maxime Oreshkin said in remarks quoted by Reuters on Thursday.

The growth rate of the oil-based economy slowed in the third quarter of this year to 1.8 percent from 2.5 percent in the second quarter, according to economic data released this month.

The statement was the first comment by an official in Russia criticizing the agreement signed between Moscow and members of the Organization of Petroleum Exporting Countries.

OPEC is due to hold its meeting on November 30 in Vienna, to discuss the possibility of extending the agreement to reduce production until the end of 2018.

The decision to cut output to 1.8 million barrels per day expires in March, according to OPEC members and beyond.

According to the agreement, Russia agreed to cut production by 300,000 barrels per day compared to production levels in October 2016.


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