About 40 Arctic projects may be in Russia's Yamal backbone zone — governorBusiness & Economy February 27, 19:28
Russian Defense Ministry forms special purpose division near MoscowMilitary & Defense February 27, 19:13
Russian frigate in Mediterranean to deliver no strikes on terrorists in Syria — sourceMilitary & Defense February 27, 18:54
First stage of Arkhangelsk deepwater port to go operational by 2025Business & Economy February 27, 18:45
Cairo group says military option in Syria 'ruled out' after recapture of AleppoWorld February 27, 18:31
Communication breakdown between Russia and EU deters fight against real threats — MPRussian Politics & Diplomacy February 27, 17:40
Medvedev says Russia should not rely on anybody’s helpRussian Politics & Diplomacy February 27, 17:09
Russian Bandy Federation cancels match results after two teams score 20 own-goalsSport February 27, 17:06
Russia’s 2017 grain export may not meet 40 mln tonnes target — agriculture ministerBusiness & Economy February 27, 17:04
VIENNA, January 22. /TASS/. The first meeting of the oil production monitoring committee under OPEC, where ministers intend to approve the mechanism of oil production monitoring and summarize initial outcomes of implementing the oil production cut agreement will be held in Vienna on Sunday.
The balance of supply and demand on the market should be estimated on the basis of produced and consumed resources, without separate recording of production and export, Russian Energy Minister and co-chairman of the committee Alexander Novak said earlier. Meanwhile, OPEC inclines to control export indicators also.
Russia is ahead of schedule in oil cut, Novak told reporters on the verge of the meeting. About 100,000 barrels per day were already cut on average, he said.
Ministers have not yet discussed the monitoring mechanism and will do that for the first time at the forthcoming meeting only, a source familiar with the course of OPEC negotiations told TASS. "The confidence level among ministers is indeed very high," the source said. No disagreements at the meeting are expected. The Russian Energy Minister told reporters he is positive about the meeting.