Russia went against the majority of the OPEC countries, with which the representatives of Moscow are in talks about the next reduction of volumes of oil production.
About it reports Reuters with reference to sources in OPEC and the Russian delegation.
On the eve of a crucial summit of the organization of Russia continues to stand its ground, and against reducing oil production to 250-300 thousand barrels per day. It is noted that OPEC requires a similar reduction in the production of “black gold”.
The Russian side continues to insist that more than 140 thousand barrels per day oil production will not reduce.
It should be noted that the members of OPEC trying to cut oil production to 250-300 thousand barrels per day to stabilize prices, because in recent times the market is too crowded. Because tokoroten will be removed from the market about 1.3 million barrels per day.
However, the media note that Moscow remained virtually the only country that is firmly against this decision.
“Saudis are working on an agreement to reduce, but if Russia refuses to reduce we (OPEC) also will reduce”, – said one of the sources.
However, it is worth noting that recently, the media published important for the global economy the news about the exit of Qatar from the Organization of countries-exporters of oil (OPEC).
During a press conference in Doha, the official said that Qatar is emerging from the Organization of countries-exporters of oil from 1 January 2019.
According to him, the decision of Qatar reflects plans to increase natural gas production in the coming years, from 77 million tons to 110 million tons per year.
It is also reported that information on withdrawal from OPEC reaffirmed the state company Qatar Petroleum. At the same time, the Minister noted that this decision is not related to blockade Qatar other members OPEC – Saudi Arabia and the UAE.
It is worth mentioning that the share of Qatar’s total oil production by the OPEC countries made in 2017 of 1.85%. In the country every day produces about 600 thousand barrels of oil.
In addition it is worth noting that oil prices reference marks are actively fell during the session on Thursday, updating the minimum value from October 2017.
The January futures for Brent crude on London’s ICE Futures exchange 14:22 fell by 0.79 dollar (1,34%) to 57,97 dollars per barrel.
Futures for WTI crude oil for January in electronic trading on the new York Mercantile exchange (NYMEX) by specified time has decreased to $ 0.56 (1,11%) — to 49.73 per barrel.
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Dave Zakarian has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Koz Post, Dave Zakarian worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella.