Russia and Saudi Arabia are considering cutting oil production in 2019
LONDON (Reuters) - Russia and Saudi Arabia, the world's top oil producers, have begun negotiating possible oil production cuts in 2019, the official Tass news agency reported Wednesday.
The source said the discussion on reducing oil production was based on a Saudi proposal, and comes after the two countries increased their production of crude oil to the maximum over the past five months, which is a shift in the strategy of Moscow and Riyadh in the oil market.
The source added that this issue will be discussed by Moscow with the Russian oil companies, without revealing any additional details.
Russian Energy Minister Alexander Novak said earlier that consultations were underway with Russian oil companies to discuss future steps under the OPEC + agreement before a forthcoming meeting of the ministerial committee to follow up the oil deal.
The Russian minister said that the oil market is currently "well balanced," despite US sanctions against Iran, which came into effect earlier this week, as Washington allowed some countries to continue to buy Iranian oil for six months.
The United States has excluded Japan, South Korea, China, Greece, Italy, India, Taiwan and Turkey from sanctions on Iran's oil exports.
Since Washington announced its withdrawal from the Iranian nuclear deal last May, Iran's oil exports have fallen by one million bpd from 2.8 million bpd.
The 2019 strategy is a key issue for the OPEC + meeting in Vienna early next December. The OPEC member countries are expected to sign a new cooperation agreement that will enter into force in early 2019 indefinitely and allow participating countries to organize production at any time. Market needs, "Saudi Energy Minister Khalid al-Falih said in an interview with TASS.
Today at 4:39 am by Rocky
» Launching funding for state employees’ salaries for the month of March
Today at 4:38 am by Rocky
» Iraq and Syria top the "least safe" Arab countries
Yesterday at 7:23 am by Rocky
» Governor of Baghdad: 20 projects will be included during the current year in the city of Nahrawan
Yesterday at 7:20 am by Rocky
» More than $242 million in central bank sales today
Yesterday at 7:17 am by Rocky
» Advisor: Sudanese is determined to close the displacement file
Yesterday at 7:14 am by Rocky
» Al-Sudani: The implementation of the 2023 budget witnessed a success that must be invested in
Yesterday at 7:13 am by Rocky
» The Baghdad Council will decide on the nomination of the committees in the coming days
Yesterday at 7:10 am by Rocky
» Al-Samarrai: The Sunni community is not in favor of removing American forces
Yesterday at 7:08 am by Rocky
» A warning from Al-Rasheed to those wishing to apply for advances and loans
Yesterday at 7:06 am by Rocky
» Azerbaijan expresses its desire to participate in the implementation of joint projects in the oil an
Yesterday at 7:05 am by Rocky
» Fuel cards arouse citizens' discontent
Yesterday at 7:03 am by Rocky
» utube 3/18/24 MM&C Iraqi Dinar-- IQD-- Dinar Update -100% Electronic - Real Effective Exchange Rat
Yesterday at 5:21 am by Rocky
» utube MM&C 3/16/24 0:05 / 18:16 Iraq Federal Court Brings - Strength to Financial - Politic
Yesterday at 5:18 am by Rocky
» MM&C 3/18/24 Sudanese Advisor: Iraq will leave government monetary dealing in mid-2024
Yesterday at 5:17 am by Rocky
» A delegation from the Kurdistan government visits Baghdad to discuss the issue of localization of sa
Yesterday at 5:11 am by Rocky
» Director of the Central Oil Company: We are keen to provide the appropriate investment environment
Yesterday at 5:10 am by Rocky
» The Energy Parliament calls for reporting generators violating government pricing
Yesterday at 5:08 am by Rocky
» A representative reveals the fate of the laws of “previous sessions”
Yesterday at 5:07 am by Rocky
» Politician: Coordination holds the keys to resolving the “Parliament Presidency” conflict
Yesterday at 5:05 am by Rocky
» Al-Sudani: Iraq wants to carry out its peaceful activity in the field of atomic energy
Yesterday at 5:04 am by Rocky
» Including a minister and a parliamentarian... 38 arrest and recruitment orders were issued against t
Yesterday at 5:02 am by Rocky
» Integrity: Citizens’ cooperation resulted in detecting inflation and returning state funds
Yesterday at 5:01 am by Rocky
» Agriculture presents 97 projects to the Ministerial Council for the Economy
Yesterday at 4:59 am by Rocky
» Al-Sudani: We succeeded in implementing the 2023 budget, and we must continue to complete economic p
Yesterday at 4:58 am by Rocky
» Labor adopts new mechanisms to reduce the phenomenon of begging
Yesterday at 4:57 am by Rocky
» Electronically.. directing the collection of fees tomorrow in an Iraqi governorate
Yesterday at 4:56 am by Rocky
» Held in Brussels.. Iraq receives an official invitation to attend the Nuclear Energy Summit
Yesterday at 4:55 am by Rocky
» Kurdistan has been paralyzed. There has been no liquidity in hand for 50 days, and the truth has bee
Yesterday at 4:53 am by Rocky
» The dollar continues to decline against the Iraqi dinar on the stock exchange and exchange offices
Yesterday at 4:52 am by Rocky
» The Minister of Oil reveals the reasons for Shell’s withdrawal from Nebras: It will be divided into
Yesterday at 4:51 am by Rocky
» The Housing Fund advises loan applicants and launches a link for inquiries
Yesterday at 4:50 am by Rocky
» He stressed that the government’s vision is to make one class not exceed 25 students...Government me
Yesterday at 4:48 am by Rocky
» Al-Hakim and Al-Halbousi stress the importance of choosing a speaker for Parliament in accordance wi
Yesterday at 4:47 am by Rocky
» Iron and Steel Company: Iraq is on the verge of a major industrial revolution
Yesterday at 4:46 am by Rocky
» Economists: Citizens still prefer cash transactions over electronic transactions
Yesterday at 4:45 am by Rocky
» The compass of Iraq's foreign policy in a world of turbulent polarization
Yesterday at 4:43 am by Rocky
» Parliamentary Finance: The federal budget is in the corridors of the Council of Ministers, and there
Yesterday at 4:42 am by Rocky
» Integrity calls on citizens to report the inflation of funds in the sector of the Ministry of Labor
Yesterday at 4:40 am by Rocky
» Al-Sudani directs the launch of initiatives for young businessmen and investors
Yesterday at 4:38 am by Rocky
» Representative agriculture emphasizes taking supportive measures for the local product
Yesterday at 4:37 am by Rocky
» An economist calls on the government to support and stimulate the private sector
Yesterday at 4:36 am by Rocky
» Al-Ittihad: Employees and retirees in Kurdistan paid the price of political differences with Baghdad
Yesterday at 4:34 am by Rocky
» Al-Samarrai and Al-Hakim discuss the importance of achieving political and constitutional entitlemen
Yesterday at 4:32 am by Rocky
» Only 23 million dunums. Iraq exploits approximately 50% of its arable land
Yesterday at 4:30 am by Rocky
» Türkiye considers it a political issue.. Where have the negotiations reached regarding Iraq’s water
Yesterday at 4:29 am by Rocky
» Sudanese receives an invitation to attend the Nuclear Energy Summit in Brussels - Urgent
Yesterday at 4:27 am by Rocky
» Central Bank sales exceed $240 million today
Sun 17 Mar 2024, 6:52 am by Rocky
» Parliamentary Finance calls on the government to expedite sending the 2024 budget to Parliament
Sun 17 Mar 2024, 6:47 am by Rocky
» ‘We’re So Sick of It’: Northern Border Crisis Gets Worse
Sun 17 Mar 2024, 6:35 am by Bama Diva
» A representative holds Kurdistan responsible for the faltering legislation of the oil and gas law
Sun 17 Mar 2024, 5:27 am by Rocky
» Warnings of the danger of the increase in foreign labor in Iraq
Sun 17 Mar 2024, 5:26 am by Rocky
» Iraq's oil exports to America decreased within a week
Sun 17 Mar 2024, 5:25 am by Rocky
» Al-Sudani chairs an “important” meeting to form the Kirkuk government
Sun 17 Mar 2024, 5:23 am by Rocky
» Investment confirms the adoption of a new method in new residential cities and explains its details
Sun 17 Mar 2024, 5:21 am by Rocky
» For the first time in 2024.. exchange rates fall to the threshold of 149 thousand in Baghdad
Sun 17 Mar 2024, 5:19 am by Rocky
» Including gold.. An increase in exports of 3 Turkish products to Iraq during 2024
Sun 17 Mar 2024, 5:18 am by Rocky
» A detailed integrity report regarding the Housing Fund... called for this matter
Sun 17 Mar 2024, 5:17 am by Rocky
» Resources count the number of trespassers in Baghdad.. What about restaurants?
Sun 17 Mar 2024, 5:16 am by Rocky
» At a cost of approximately two billion dinars... determining the completion rates achieved in the Ma
Sun 17 Mar 2024, 5:15 am by Rocky
» Parliament awaits the “Cabinet of Ministers” law
Sun 17 Mar 2024, 5:14 am by Rocky
» Provincial councils return after an absence with a heavy legacy
Sun 17 Mar 2024, 5:13 am by Rocky
» Iraq is the axis and meeting point of East and West
Sun 17 Mar 2024, 5:11 am by Rocky
» One million beneficiaries of health insurance early next May
Sun 17 Mar 2024, 5:10 am by Rocky
» Parliamentary Finance: Delaying the budget had a negative impact on the performance of the ministrie
Sun 17 Mar 2024, 5:09 am by Rocky
» The chaos of urban expansion threatens the agricultural character of Diwaniyah
Sun 17 Mar 2024, 5:08 am by Rocky
» A project to plant Japanese trees in Erbil
Sun 17 Mar 2024, 5:07 am by Rocky
» A team to prepare the national strategy for national security in Kirkuk
Sun 17 Mar 2024, 5:06 am by Rocky
» Next Tuesday...concluding a contract to expand the basic design of the city of Mosul
Sun 17 Mar 2024, 5:04 am by Rocky
» A festival to reduce food prices in Mosul
Sun 17 Mar 2024, 5:03 am by Rocky
» Technical committees between Baghdad and Erbil to resume oil exports through Türkiye
Sun 17 Mar 2024, 5:02 am by Rocky
» A model of economic diversification
Sun 17 Mar 2024, 5:01 am by Rocky
» Variation in the extent to which Iraq was affected by the decision to reduce the credit rating of {T
Sun 17 Mar 2024, 5:00 am by Rocky
» Al-Sudani: Iraq has made a commitment to receive the entire security file from the Ministry of Inter
Sun 17 Mar 2024, 4:58 am by Rocky
» The President of the Republic stresses the important role of Mr. Abdul Aziz Al-Hakim in the first st
Sun 17 Mar 2024, 4:56 am by Rocky
» The Iraqi Center for Combating Rumors warns against social media celebrities misleading their follow
Sun 17 Mar 2024, 4:54 am by Rocky
» Integrity investigates the work of the Housing Fund and indicates debts worth 56 billion dinars
Sun 17 Mar 2024, 4:53 am by Rocky
» Agricultural associations in Karbala welcome the provincial council’s decision to prevent the fragme
Sun 17 Mar 2024, 4:52 am by Rocky
» Free education lecturers demand that they be given job opportunities and contracts in Kirkuk
Sun 17 Mar 2024, 4:51 am by Rocky
» The Digital Media Center calls for not browsing links published on a government page
Sun 17 Mar 2024, 4:50 am by Rocky
» The President of the Republic confirms the strength of relations between Iraq and Italy
Sun 17 Mar 2024, 4:48 am by Rocky
» A decline in Iraq's oil exports to America during the past week
Sun 17 Mar 2024, 4:47 am by Rocky
» Economic researcher for / NINA /: Iraqi youth are qualified for the labor market and relying on them
Sun 17 Mar 2024, 4:46 am by Rocky
» The Minister of Planning is following up on the Statistics Authority’s preparations to conduct the g
Sun 17 Mar 2024, 4:45 am by Rocky
» 5 days after sending the money and the Kurdistan government has not paid the salaries...a political
Sun 17 Mar 2024, 4:44 am by Rocky
» A political reading about Sudanese political concern.. Amending the election law is one of the attem
Sun 17 Mar 2024, 4:42 am by Rocky
» Al-Sudani to the Baghdad government: Pay attention to the outskirts of the capital, and drainage mus
Sun 17 Mar 2024, 4:41 am by Rocky
» The Iraqi dinar recovers against the dollar in local markets
Sun 17 Mar 2024, 4:39 am by Rocky
» Investment provides a summary of Bismaya units... and the new cities have “fixed prices” for the fir
Sun 17 Mar 2024, 4:38 am by Rocky
» “Hidden commissions” on electronic fuel cards, contrary to what is advertised.. To whom does 100 mil
Sun 17 Mar 2024, 4:37 am by Rocky
» Al-Hasnawi: The government is continuing to accelerate the completion and opening of lagging health
Sun 17 Mar 2024, 4:36 am by Rocky
» Oil: The gasoline import file will be closed early next year
Sun 17 Mar 2024, 4:35 am by Rocky
» “My account or your account”... a new problem behind the delay in the salaries of the region’s emplo
Sun 17 Mar 2024, 4:34 am by Rocky
» Al-Sudani: Iraq is about to host important events and conferences
Sun 17 Mar 2024, 4:33 am by Rocky
» In Erdogan's visit to Iraq...the path of development in exchange for water
Sun 17 Mar 2024, 4:33 am by Rocky
» An American report on Washington’s seriousness in withdrawing from Iraq: Biden does not want to lose
Sun 17 Mar 2024, 4:30 am by Rocky
» The organization is banned in Iraq.. Baghdad decides the fate of the Workers’ Party after 40 years o
Sun 17 Mar 2024, 4:29 am by Rocky
» The rain exposes the poor quality of service projects and calls for the dismissal of officials and h
Sun 17 Mar 2024, 4:28 am by Rocky
» Politician: Ankara needs Baghdad economically, and the path of development is Iraq’s trump card
Sun 17 Mar 2024, 4:26 am by Rocky