Date: 6 months ago   Category: Markets

The OPEC pressed through Russia


Russia decided to make concessions to the Organization of Petroleum Exporting Countries (OPEC). Moscow agreed to increase the reduced production volumes within the agreement with the cartel countries. The Reuters agency with reference to a source in the Russian Ministry of Energy reports about it. Initially the Minister of Energy of the Russian Federation insisted that during the winter period Russia cannot reduce production more than by 150 thousand barrels a day purely technically. Now Russia stated readiness to reduce production by 200 thousand barrels, however is it is all the same far from 300 thousand barrels on which drew the OPEC countries. Materials on teme14:26 — on December 3 Qatar leaves from Opekrossiysky gas risks to depreciate. This favourably Ukraineboly that, the Minister of Energy Alexander Novak earlier on Friday, December 7, claimed that he already expressed OPEC the position of Moscow concerning the agreement on production reduction. And the only ease for which Russia was initially ready — to reduce by 150 thousand barrels a day production for the first three months, and further to reconsider this assessment. The summit of OPEC takes place the third day, the parties continue the hardest negotiations. Initially the OPEC planned to reduce production in total by 1.3 million barrels a day, however the position of Moscow and Tehran introduced amendments in these plans, now the cartel hopes to reduce production at least by one million barrels a day. "The film of day" is more than important news in Telegram channel. Subscribe!

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