Forest fires in Siberia swell four times to cover 30,000 hectaresWorld May 26, 9:45
Seoul pins hopes on Moscow in resolving tensions on Korean PeninsulaWorld May 26, 9:14
Space technologies offer glimpse at Tsar Ivan the Terrible’s rare portraitSociety & Culture May 26, 8:05
Meteorologists name world’s deadliest cyclones, tornadoes and hailstormsWorld May 26, 7:51
Most Americans view Russia as unfriendly country — surveySociety & Culture May 26, 7:35
Trump yet to determine his stance on anti-Russian sanctionsWorld May 26, 6:29
Russia ensuring rights of workers at FIFA World Cup construction sitesSport May 26, 3:08
Russian emergencies minister arrives in flood-hit southern RussiaWorld May 26, 2:56
NATO to join anti-IS coalition but unlikely to engage in combatWorld May 26, 0:23
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.