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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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    Reports: Russia will propose to increase production of OPEC and its allies of oil

    Rocky
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    Reports: Russia will propose to increase production of OPEC and its allies of oil Empty Reports: Russia will propose to increase production of OPEC and its allies of oil

    Post by Rocky Wed 13 Jun 2018, 7:59 am

    Reports: Russia will propose to increase production of OPEC and its allies of oil





    2018/06/13 14:16

    (Encyclopedia of this Day News | Iraq News ) - Live: press reports claimed that Russia is planning to offer a proposal to allow theOrganization of Petroleum Exporting Countries ( OPEC ) producers and collaborators to return to production levels recorded in October 2016.

    At the end of 2016, countries from within and outside OPEC agreed to cut oil production by 1.8 million bpd.

    Bloomberg quoted relevant sources on Tuesday as saying that the proposal would restore part rather than all reduced production within three months.

    Russia and Saudi Arabia have been discussing ways to raise production by 1 million bpd.

    The countries may share a relative increase in production by 1.8 million barrels per day from the current production ceiling, beginning in July.

    OPEC is meeting on June 23 to review the cut production agreement.

    The sources pointed out that the actual increase in supply in the market may be lower than this level, because some countries, especially Angola, Mexico and Venezuela is unable to increase production.

    Moscow believes the new agreement will provide stability to the market during the period of increasing summer demand in the northern hemisphere, the sources said.



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