Report: Russia, Saudi Arabia stand for gradual rise of oil output - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Report: Russia, Saudi Arabia stand for gradual rise of oil output

MOSCOW, Jun 14 (PRIME) -- Russia and Saudi Arabia agree that OPEC and non-OPEC states should gradually increase their oil production, Bloomberg reported on Thursday quoting Russian Energy Minister Alexander Novak.

But the countries are still discussing the terms and volumes of the increase, Novak said as cited by Bloomberg.

In November 2016, OPEC and non-OPEC states agreed to reduce their oil production to rebalance the market. Russia joined the agreement in December 2016 with a promise to cut output by 300,000 barrels daily compared with the level of October 2016. The agreement was initially concluded for January–June, prolonged for nine more months in May and then until the end of 2018 in November.

End

14.06.2018 11:05
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 75.1825 -0.1393 21 nov
USD 65.5871 -0.4210 21 nov
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1116.85 -1.66 18:50 20 nov
micex 2341.60 -1.36 18:50 20 nov
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 151.51 -1.68 18:49 20 nov
lkoh 4809.50 -0.74 18:48 20 nov
rosn 413.55 -2.49 18:49 20 nov
sber 194.21 -1.91 18:49 20 nov
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 74.9725 -0.2775 14:59 20 nov
USDTD 65.7475 -0.1775 17:44 20 nov