Russia has no doubt that US can do something destructive to North Korea - LavrovRussian Politics & Diplomacy September 20, 6:21
ECHR rules not to revise its judgement on Beslan hostage taking caseWorld September 19, 19:18
Trump vows to 'totally destroy North Korea' if threatenedWorld September 19, 17:50
Russian top brass calls on US to not hamper Damascus’ fight against terrorismMilitary & Defense September 19, 17:49
Zapad-2017 exercise puts Russian army’s "nervous system" to testMilitary & Defense September 19, 17:33
Ukrainian conflict led to spike in hate speech, Russophobia — Council of EuropeWorld September 19, 17:00
Russian regions contribute scores of natural stones for memorial to Gulag victimsSociety & Culture September 19, 16:45
Warsaw police hunting vandals who desecrated Soviet military cemeteryWorld September 19, 16:39
Donbass truce first step towards lifting anti-Russian sanctions — German top diplomatWorld September 19, 16:36
OPEC members will hold a meeting in Vienna on November 27 to consider the issue of oil production quotas. The world oil price over the past six months has declined by nearly 30% The market players suppose that if OPEC countries fail to agree on measures to considerably reduce oil production the oil price may drop to $60 a barrel.The OPEC member states last time reduced oil production quotas in 2008 when the oil price fell from $140 to $32 a barrel. Some cartel members such as Iran, Iraq, Nigeria, Venezuela and Ecuador are for the quota reduction as soon as possible, and the United Arab Emirates (UAE) and Kuwait are against, while the stance of the most influential OPEC member Saudi Arabia is still unclear. As for Russia, it has not changed it stance over the recent months. In late November, Russian Energy Minister Alexander Novak said the government was considering options for cutting oil production volume to support the price. The minister added that no decision had been made yet.
According to some unconfirmed data, Russia is ready to offer OPEC member countries to cut the production level by 15 million tons annually. Crude oil that accounts for a major share of Russia’s exports has fallen in price by 27% in 2014 due to the decline in demand and appearance of new production fields.