Currency converter
^
All news
News Search Topics
ОК
Use filter
You can filter your feed,
by choosing only interesting
sections.
Loading

Diplomat praises Venezuela's, Russia's roles in OPEC agreement signing

December 05, 2016, 14:25 UTC+3 MOSCOW

According to the agreements reached in Vienna, OPEC member-states will reduce daily average oil production by 1.164 mln barrels starting January 1, 2017

Share
1 pages in this article
© Egor Aleev/TASS

MOSCOW, December 5. /TASS/. Venezuela and Russia have played a fundamental role in the signing of the OPEC agreement on crude oil reduction in Vienna on November 30, Minister-Counsellor of Venezuela’s embassy in Moscow Hoglis Martinez said Monday.

"Energy is the key pressing issue, the hottest topic of all discussions. Last week OPEC made a historic agreement in Vienna. Venezuela and Russia played a fundamental role in this agreement," he said.

According to the agreements reached in Vienna, OPEC member-states will reduce daily average oil production by 1.164 mln barrels starting January 1, 2017. Saudi Arabia will cut output by 486,000 barrels of oil per day, Iraq - by 210,000 barrels, United Arab Emirates - by 139,000 barrels, Kuwait - by 131,000 barrels, Venezuela - by 95,000 barrels, Angola - by 80,000 barrels, Algeria - by 50,000 barrels, Qatar - by 30,000 barrels, Ecuador - by 26,000 barrels, Gabon - by 9,000 barrels of oil. Iran will not cut, and may even boost crude production by 90,000 barrels per day as the country had been under international sanctions for a long time. Nigeria and Libya will not reduce production either.

Now OPEC will have to make a similar deal with non-OPEC members. The cartel expects them to cut crude production by 600,000 barrels per day in 2017, including a reduction of 300,000 barrels per day by Russia.

Show more
Share
In other media
Реклама
Реклама