Putin discusses Russia’s economy growth with ministersBusiness & Economy September 24, 2:38
Lavrov warns against partition of SyriaRussian Politics & Diplomacy September 23, 0:00
Lavrov calls to coordinate Russian, US military action in SyriaRussian Politics & Diplomacy September 22, 21:05
Lavrov blames Obama administration for souring Russia-US tiesRussian Politics & Diplomacy September 22, 20:41
Waging war on Korean Peninsula inadmissible, says LavrovRussian Politics & Diplomacy September 22, 20:36
Russian Northern Fleet completes drills in ArcticMilitary & Defense September 22, 18:01
OPEC and non-OPEC countries to continue talks on oil production cut dealBusiness & Economy September 22, 17:28
Russian pair figure skaters Kavaguti, Smirnov retire from sportSport September 22, 16:48
Record number of delegations register for St. Petersburg-hosted IPU AssemblyRussian Politics & Diplomacy September 22, 16:47
MOSCOW, December 12. /TASS/. Brent oil climbed over $57 per barrel, fist time since July 21, 2015, pending reports on the signing of an agreement on cuts in the output of crude oil by OPEC member-states and non-OPEC countries.,
The result was shown by trading on ICE electronic platform in London.
OPEC member-states and non-OPEC nations signed an agreement on a coordinated reduction of the output at a conference in Vienna on December 10.
A total of eleven countries that have pledged to cut the production of crude by 558,000 barrels a day will join the output reduction of 1.164 barrels a day in the first six months already announced by OPEC member-nations. The overall reduction will thus stand at 1.7 mln barrels to 1.8 mln barrels.
Russian Energy Minister Alexander Novak told reporters on Saturday Moscow would abide the pledge to slash the output by 300,000 barrels a day.
Other pledged reductions stand at 100,000 bpd in Mexico, 40,000 bpd in Oman, 35,000 bpd in Azerbaijan, and 20,000 bpd in Kazakhstan.
Sudan, South Sudan, Malaysia, Equatorial Guinea, Brunei, and Bahrain will cut the putout by 63,000 bpd altogether.