{{dayPoint.date | date : 'd MMMM yyyy'}}

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

World oil prices

Research: Oil excess to persist globally till 2017

In theory, if key oil producers reach an agreement on market regulation at the end of the year the excess of supplies may be fully liquidated though this option is unlikely, a research says

© Egor Aleev/TASS

Read also

IEA keeps 2016 global oil demand forecast at 95.9 mln barrels per day

MOSCOW, May 12. /TASS/. The excess of oil supplies on the global market, which pushed crude prices down, will subside though persisting till the middle or the end of next year and restrain the recovery of oil prices, a research by the Moscow-based energy sector advisor Vygon Consulting released on Thursday said.

"In theory, if key [oil] producers reach an agreement on market regulation at the end of the year the excess of supplies may be fully liquidated though this option is unlikely. Particularly, much will depend of Iran’s stance, which in our view will provide around half of the forecasted production increase of the cartel. The balance may only be reached in case the OPEC member-states strike a compromise or if the geopolitical situation in the Middle East seriously worsens. Otherwise, the excess of oil will persist throughout 2017," the research said.

The structural oil excess more than doubled in 2015 to 2 mln barrels per day, Vygon Consulting said.

Read also

Tags

Oil & Gas Oil price

EAEU trade turnover reaches record high level of $8.7 bln in 2023 — Russian Prime Minister

The trade turnover between Russia and Belarus reached 4 trillion rubles ($43.8 bln)

US-oriented structures try to reformat security system in Asia-Pacific region

Russian Defense Minister Sergey Shoigu underlined that this is being done by strengthening "military-political structures such as QUAD, AUKUS and the US-Japan-Philippines triad"

Reinforced Ukrainian battlegroup fails to break through Russian defenses in DPR — expert

Andrey Marochko added that the Ukrainians have also intensified artillery and drone attacks at Russian positions

Russia says its battlegroup West seized better positions

The Russian forces also foiled a counterattack of an assault group of the Ukrainian 80th mechanized brigade in the vicinity of the Krasnoye settlement in the Donetsk People’s Republic

Russia needs to boost production of goods based on domestic technologies — Putin

The President undescored that Russia did not plan to produce absolutely everything domestically

China, US free to have their own friends, partners — President Xi

Beijing sticks to the principle of non-alignment with any blocs, the Chinese leader said and called on Washington "to refrain from teaming up in small groups"

Bank of Russia keeps key rate at 16% per annum again

"The return of inflation to target and its further stabilization close to 4% assume that tight monetary conditions will be maintained in the economy for a longer period than previously forecast," the regulator said

Russian diplomat accuses US of coordinating Ukraine’s terrorist attacks

Earlier, US President Joe Biden signed a package of bills approved by Congress, which total some $95 bln and include about $61 bln to help Ukraine and $26 bln to support Israel

US military advisers, if sent to Ukraine, won’t come close to frontlines — Pentagon

"United States has no intent of conducting combat operations inside of Ukraine, nor are these forces going to be anywhere near the frontlines," Patrick Ryder said

Putin’s trip to China will rivet world’s attention, Kremlin spokesman predicts

The countries will jointly announce the time of this trip, Dmitry Peskov said

Over 3,100 foreign mercenaries fight for Ukraine, most of them from US

The Russian Investigative Committee added that measures are underway to locate their whereabouts and bring them to criminal liability

SCO expects Belarus to join the organization very soon — Shoigu

The Russian defense chief is certain that "this is an important moment in strengthening security in the SCO space"

Top Chinese diplomat says two states only solution to Middle East situation

"The catastrophe in Gaza proves once again that the inability of the Palestinian people to implement their legitimate national rights is the root of the Palestinian-Israeli contradictions and the essence of the Middle East issue," Wang Yi stressed

Press review: Belarus' new national security strategy and Russia, US butt heads at UN

Top stories from the Russian press on Friday, April 26th

Hungary sees Ukraine conflict entering new phase, NATO involvement rising

According to the minister Gergely Gulyas, the North Atlantic Alliance "wants to provide financial assistance, as well as supply weapons and train Ukrainian soldiers"

Shoigu talks about ties with NATO, attacks on Zaporozhye NPP as he attends SCO meeting

TASS has put together the highlights of Shoigu's speech

Kiev violates diplomatic relations convention by recruiting mercenaries abroad — diplomat

Maria Zakharova pointed to media reports, according to which Ukrainian embassies in a number of countries are openly campaigning local citizens to join the so-called International Legion of Ukrainian Territorial Defense

Abrams tanks easy targets for drones — Russian expert

According to Dmitry Kuzyakin, "as long as there is a lack of direct communication between those who make the tanks and who use them, the Abrams will not evolve to meet modern warfare requirements"

Top Chinese diplomat calls for creating conditions for talks on Ukraine

Wang Yi also called for "resolutely opposing attempts to take advantage of the chaos and add fuel to the fire"

Global community changing tune about how Ukraine conflict started — security official

According to Nikolay Patrushev, these countries "understand perfectly well who is financing" the Kiev regime

Transfer of US ATACMS missiles to Ukraine cannot be justified — Russian ambassador

"Neither these missiles nor other weapons can help defeat the Russian Federation," Anatoly Antonov said

Iran calls on BRICS states to facilitate ceasefire in Gaza Strip

Iranian Deputy Foreign Minister Ali Bagheri Kani called for a complete withdrawal of Israeli troops from Gaza

Russian, Chinese militaries interacting stabilizes world processes — top defense official

Chinese Defense Minister Dong Jun noted that he wanted to discuss "the most fundamental issues" with his Russian counterpart, given the constraints of time and place

Senior security official points to rising tensions on Belarus’ western border

Tensions "have reached a peak where the slightest imbalance can lead either to a serious, high-profile and large-scale provocation or a conflict," Pavel Muraveiko stressed

Israel ready to accept release of fewer than 40 hostages in deal’s first phase — newspaper

According to the report, Israel is willing to acceprt the release of women, men over 50 years old and those seriously ill

Russia warns US, NATO against harming its security — diplomat

Maria Zakharova stressed that "the level of nuclear risks have risen dramatically as a result of the West’s destructive policy, which is fraught with a direct military confrontation between nuclear powers"

Russian troops destroy 89 Ukrainian UAVs, 5 boats in Kherson area over past day

"Battlegroup Dnepr units conducted active counterbattery warfare and destroyed enemy drones, manpower and equipment on the right bank of the Dnieper River," Governor Vladimir Saldo said

Press review: NATO flexes muscles near Russian border and South China Sea runs hot

Top stories from the Russian press on Wednesday, April 24th

China vows decisive response to US move to deploy intermediate missiles in Asia-Pacific

The Chinese Defense Ministry spokesperson stressed that "US steps are posing a major threat to security and stability of regional players"

Fatah accuses Hamas of actions that led to Israeli control of Gaza — report

Fatah also said Hamas is currently seeking to become part of the Palestine Liberation Organization, but is doing this "only to preserve itself and survive"

Kiev may use ATACMS missiles to hit Crimean Bridge — Russian defense ministry official

Russian military will do its utmost to repel such attacks, Apty Alaudinov said

US nukes in Poland to become target for Russia should confrontation with NATO occur — MFA

"The impression is that Warsaw is maniacally seeking to attract even more attention from military planners in the Russian General Staff," Maria Zakharova added

Casualties reported after Ukrainian strike on residential house in Zaporozhye Region city

The rescuers are involved in efforts to clear the rubble of a five-story house on Kuibyshev Street

Security concerns mount as radical Islamists flock to Southeast Asia

Russian Defense Minister Sergey Shoigu added that establishing a security framework in Eurasia will be an important goal for the Shanghai Cooperation Organization

All-Belarusian People's Assembly adopts new military doctrine, security concept

The adoption of a new military doctrine instead of the one that has been in force since July 2016 stems from the need for adaptation to the changed military-strategic situation

Kremlin spokesman describes European Parliament as 'Russophobic machine'

Dmitry Peskov added that the EP "has turned into a machine brimming with internal contradictions that keeps generating boorish statements"

Situation at ZNPP remains unpredictable — International Atomic Energy Agency

The situation can take a sudden turn for the worse from one minute to the next, IAEA Director General Rafael Grossi said

Moscow, Minsk pushing for peace even as 'war in the air' — Belarusian official

Pavel Muraveiko stressed that "the leaders of Belarus and Russia are doing everything possible and impossible to ensure peace and security on western borders"

Polish leader cautions NATO allies against provoking Russia

Andrzej Duda slammed the reported instances of Russian missiles entering Poland's airspace as "a Russian provocation"

Ukraine to cease to exist unless it enters into talks, Belarusian president warns

Alexander Lukashenko stressed that his Ukrainian counterpart Vladimir Zelensky should have realistic expectations

Kiev troops may strike targets in Crimea with ATACMS missiles — newspaper

The goal "is to put more pressure on Crimea," The New York Times said

Global community condemns use of terrorists in geopolitical struggle — Russian official

Russian Security Council Secretary Nikolay Patrushev noted that the heads of foreign delegations expressed sincere condolences to the Russian people over the casualties of the attack on a concert hall outside Moscow

Potential nuclear facilities in Poland to be military target for Russia — senior diplomat

According to Sergey Ryabkov, discussions around the deployment of NATO nuclear facilities in Poland are an "unfolding story"

Crocus City Hall attack funded using cryptocurrency, Russian finance watchdog says

Russia’s Federal Financial Monitoring Service head added that the act of terrorism was intricately planned and it took an international network of conspirators to carry it out

US effectively dooms Ukraine by its new decisions, Russian envoy says

"The American aid won’t save Zelensky. New weapons will be destroyed, and the special military operation goals will be achieved," Anatoly Antonov stressed

Ukrainian opposition demands parliament speaker's resignation over pro-Hitler remarks

The speaker’s shocking remarks sparked outrage among the public

Ukrainian army strikes own surrendering soldiers — POW

Andrey Babenko said that after a crash course in Britain he had been sent to the frontline near Liman

Houthis say they attacked MSC Darwin vessel in Gulf of Aden

The Houthis also confirmed that the movement will "continue its military operations, impeding the navigation of Israeli vessels in the Red Sea, the Arab Sea and the Indian Ocean"

European Parliament urges EU states to regard Russian presidential vote as illegitimate

The resolution passed in a 493-11 vote, with 18 abstentions

Kiev confirms pulling back US-made Abrams tanks due to vulnerability to Russian UAVs

Thirty-one American tanks have become "unfit for the classical deployment," Maxim Buzhansky said

Russia ready to cooperate with all interested partners to ensure security — Putin

The Russian leader expressed confidence that the the 12th International Meeting of High Representatives for Security Issues "will bolster cooperation for the mutual benefit of our countries and peoples"

Promotion of Russian brands gives good return — Putin

Comprehensive mechanisms require to be worked out, the head of state noted, responding to a proposal to add new tools to support of congress and exhibition activities

Foreign delegations show great interest in Russian defense products — security official

The 12th International Meeting of High Representatives for Security Issues took place in St. Petersburg on April 23-25

West prepares puppet structures in case of coup in Belarus — KGB

Ivan Tertel said various methods were being considered, up to "instigating a forceful seizure by illegal armed groups" being trained in the West and Ukraine

Network of international conspirators plotted Crocus terrorist attack — watchdog

Yury Chikhanchin pointed out that the perpetrators of the attack were provided with money, weapons, transportation and ammunition

Space station’s orbit raised by 1 km — Roscosmos

According to preliminary information, the average altitude of the orbital outpost was increased to 414.8 km above the Earth’s surface

Radioactive cloud from Ukraine’s eliminated munitions drifts to Europe — Security Council

"An increase in radiation levels has already been registered in Poland," Nikolay Patrushev warned

Ukraine could send special forces to capture Zaporozhye NPP — politician

According to Vladimir Rogov, the Ukrainian troops are holding drills to cross the Dnieper from the right bank to the left bank and capture a large industrial site

Press review: US tries to strong-arm China and Zelensky's bid to bring men home

Top stories from the Russian press on Thursday, April 25th

Russian Embassy to Austria denied participation in ceremony at Nazi concentration camp

The embassy said that the Austrian Mauthhausen Committee had also cautioned the organizations of Russian compatriots in Austria against participating in the event

Positive trends in Russian economy become stronger — Putin

"Despite unprecedented challenges we face in recent years, positive trends are becoming stronger in national economy," the head of state said

Venezuelan foreign ministry, Russian embassy hold joint conference in Caracas

The event brought together almost 200 diplomats, foreign ministry staffers and experts in international relations

Staff shortage cannot be covered by labor migration — Putin

Labor productivity requires a significant increase in all sectors of the economy, the President stressed

Moscow Zoo gifts animals to North Korea — news agency

Earlier, a delegation from the Moscow Zoo headed by its head Svetlana Akulova arrived in Pyongyang on April 22

SCO should unite against foreign attempts to trigger revolutions — Shoigu

"The main emphasis should be placed on the development of military contacts between the SCO and the CSTO,"the Russian defense minister said

Russian troops wipe out Ukrainian UAV production workshop over past day

The Russian forces improved their frontline positions and inflicted casualties on five Ukrainian army brigades in the Donetsk area over the past day, the Defense Ministry reported

Musk concurs that civil war looming in West

The US businessman commented on remarks by Gad Saad, a Canadian professor of Lebanese origin, who insisted that "the path that the West is taking will result in civil war"

Kremlin vows to resolve situation with Turkish Airlines refusing service to Russians

Russia has "very constructive and friendly relations" with Turkey, Dmitry Peskov stressed

Russia appreciates Bolivia’s push to defend sovereignty, Lavrov says

The Russian foreign minister said that the sides would exchange opinions on how to develop bilateral relations along the path outlined by Bolivian President Luis Arce and Russian President Vladimir Putin

Kremlin unconcerned by European Parliament’s resolution on Russian election

The resolution that European Parliament members passed at a plenary session in Strasbourg "urges the member states of the European Union and the international community not to recognize the outcome of the Russian presidential election"

North Korea to take part in SPIEF — Embassy in Russia

The 27th St. Petersburg International Economic Forum will be held on June 5-8, 2024

Russia to hold next international security meeting in 2025 — top security official

The date and location will be announced later

Houthi leader says group attacked more than 100 ships in Red, Arabian seas so far

Ansar Allah strikes one ship every two days, Abdul-Malik al-Houthi said

Pelosi's remarks about US protesters undemocratic, Russian diplomat says

On April 25, US police said at least 127 people were arrested during large-scale protests on American university campuses against Israeli actions in the Palestinian enclave

Israel Defense Forces delivers more strikes on Hezbollah infrastructure in Lebanon

Apart from that, IDF fighter jets delivered strikes on Hezbollah infrastructure in the area of Kfarchouba in southern Lebanon and in Markaba

US first caused, now purposefully drags out Ukraine conflict — Shoigu

The Russian top defense official added that in order to achieve its goals, Washington is exerting unprecedented pressure, including on its partners

Negative trends still on rise in US-China relations — top Chinese diplomat

The United States should not cross the red lines with regard to China’s sovereignty and security, Wang Yi added

West bends sanctions rules when it suits them — Kremlin

Dmitry Peskov noted that, "according to some parameters, companies in Europe and other regions can hardly maintain their competitiveness if they completely abandon our products"

Russian defense chief points to West’s double standards on right to self-defense

In this regard, Sergey Shoigu mentioned the operation that Tehran carried out "in retaliation for a blatant attack on the Iranian consulate building in Damascus"

FSB nabs Neo-Nazi group members in Volgograd Region plotting high-profile terror act

During the questioning, the detainees gave confessionary evidence that sharing the ideas of racial and religious supremacy, they established contact with the ringleaders of the pro-Ukrainian terrorist organization

North Korea tests multiple rocket launchers produced at new defense enterprise

Country’s leader Kim Jong Un said the systems feature advanced technologies and "will contribute to strategic changes in the process of strengthening the artillery forces."

Russia-Europe relations require fresh approach — Kremlin

Russia and Europe are geographically close anyway, Dmitry Peskov noted

Cosmonauts complete spacewalk two hours ahead of schedule

The cosmonauts fulfilled their tasks way faster than planned, spending four hours and 36 minutes in space

Russian court arrests in absentia four foreign agents charged with terrorism

"The court has selected a measure of restraint for Garry Kasparov, Gennady Gudkov, Yevgenia Chirikova and Ivan Tyutrin, charged with establishing and heading a terrorist society, funding terrorist activity and justifying it publicly," the court said

Ukraine had to negotiate agreements with Russia with ‘three masters’ — Russian envoy

"It is very difficult to negotiate with those who are unable to make decisions, even if they want, they can’t, and only act as a side to a difficult conflict," Vladimir Medinsky explained

Over 60% of Russian companies continue using Microsoft services

57% of companies replaced at least one foreign service with a Russian one over the past few years, the analysts noted

Europe should be prepared to build relations with Russia post-Ukraine conflict — Macron

According to the French leader, when building relations with Russia, Europe needs to rely upon its own strong security system

US government prepares to sign $6-bln contract for arms deliveries to Ukraine — Politico

According to the article, the United States "is putting the finishing touches" on one of its largest Ukraine military aid packages to date, which may be announced on Friday

Russian foreign minister to meet with Bolivian counterpart in Moscow

The top diplomats are to discuss bilateral ties, political dialogue, ways of broadening cooperation in various sectors and improving the legislative and contractual framework

One more suspect in Crocus City Hall terror attack arrested — police

The detention was reported earlier by the media, which said that police had captured Tajik national Djumokhon Kurbonov

Blinken’s visit to China meant to shatter Russian-Chinese ties — senior Russian diplomat

"I think that Beijing understands this perfectly well and will not even pretend being ready to reach any agreements with the Americans to the detriment of Russia’s interests," Sergey Ryabkov said

Swiss conference on Ukraine undermines European security — Russian diplomat

In Maxim Buyakevich words, neither the talks nor their outcome can change the existing political and territorial realities

French neo-Nazi ringleader liquidated near Avdeyevka — sources

There is confirmed evidence of his connections with French secret services

NATO bears direct responsibility for Ukraine crisis — Chinese Foreign Ministry

Spokesman Wang Wenbin stressed that China was not providing weapons to the conflicting parties and strictly controlled dual-use goods, including the export of drones

Russian troops wipe out military train with Western armaments in DPR over past day

Russian troops improved their tactical position and repelled eight Ukrainian army counterattacks in the Avdeyevka area over the past day, the Defense Ministry reported

Better situation for peace in Ukraine, threats to Belarus: new statements by Lukashenko

The head of state accused Washington of preparing a "Belarusian liberation army" and reiterated Minsk's readiness to "defend its country"

West again tried to obstruct international security meeting in Russia — security official

According to Nikolay Patrushev, some representatives planned to attend the meeting, but later succumbed to pressure and refused

Ukraine turns into testing ground for future world order, says Belarus president

"The largest nuclear powers, albeit indirectly, are actually fighting on Ukrainian territory. And not indirectly," the president of Belarus noted

Armenian police arrests people protesting against demarcation with Azerbaijan

Earlier, demonstrators in several regions of Armenia tried to block highways, including international ones

Ukraine’s army leaves first defensive line in Berdychi near Avdeyevka, says DPR

The Ukrainian military has suffered heavy casualties among personnel and military hardware in that community, Igor Kimakovsky said

Dardanelles temporarily closed due to fire on board of dry cargo carrier

Rescue craft were promptly sent to the ship, fire extinguishing started, the crew was evacuated