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World oil prices

Lukoil CEO doubts deeper quotas on oil production cut within OPEC deal are necessary

The quota of oil output cut by the OPEC countries and 11 independent oil producers remained the same - 1.8 million barrels per day

© Sergei Bobylev/TASS

ST. PETERSBURG, June 2. /TASS/. Russian oil producer Lukoil doubts that deeper quotas on oil production cut within OPEC deal are necessary, Chief Executive Officer Vagit Alekperov said at the St. Petersburg International Economic Forum.

Read also

OPEC extends agreement on oil production cut

"I don’t think it will be necessary," he said, adding that a nine-month period is enough to thoroughly analyze the situation.

"The first quarter [of 2018 - TASS] will show to what extent the market has balanced, how fast shale oil production will be rising, and how fast crude oil production will be rising, which will allow to take a consolidated decision," the CEO added.

Alekperov also said this is the first time in his 50-year career that he has had to take a decision to cut production.

"This is a tough choice for me, but I realize that it is aimed at supporting the industry," he said.

Read also

Energy Ministry: Russian oil producers won't be compensated for extending output cut deal

On May 25, OPEC and non-OPEC countries agreed in Vienna to extend the existing level of oil production cut (1.8 mln barrels daily) until April 2018.

The quota of oil output cut by the OPEC countries and 11 independent oil producers remained the same - 1.8 million barrels per day (Russia accounts for 300,000 barrels).

In December 2016, OPEC and 11 countries outside the cartel agreed to withdraw 1.8 million barrels per day from the oil market in the first half of 2017. The goal of the alliance is to reduce global oil reserves to an average level of five years.

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Lukoil Oil price OPEC SPIEF-2017

Russia and Bahrain plan to increase number of direct flights — ambassador to Moscow

As Ahmed al-Saati noted, to increase the number of flights, Bahrain needs to order and lease aircraft, and this takes time

US missile defense base in Poland long among Russian army’s targets — Foreign Ministry

Maria Zakharova stated that the US-NATO construction project, ongoing for nearly a decade with complete disregard to Russian security concerns, has consistently been a focus of Russia's attention

China holds US responsible for disrupted defense ministers' meeting in Laos

Wu Qian stated that the United States must immediately correct its mistakes, "honestly respect China’s main interests, and seek to create favorable conditions for high-level contacts between the military of the two countries"

Biden slams ‘outrageous’ International Criminal Court warrants for Israeli leaders

"There is no equivalence - none - between Israel and Hamas," US president said

West irrational, fails to understand it cannot intercept Russia's new missiles — Kneissl

The former Austrian foreign minister stressed that she "counted on rational Western decision-makers, but irrationality is unfortunately on the rise among them"

Trump seeks to restore peace in entire world — transition team on Putin’s address

Trump’s inauguration will take place on January 20, 2025

Soyuz rocket carrying Progress MS-29 cargo spaceship blasts off from Baikonur spaceport

Progress MS-29 will deliver 2,487 metric tons of cargo to the orbital outpost, including fuel, drinking water, compressed nitrogen, various equipment, food and clothing

Russia to hold informal UN Security Council meeting on unilateral restrictions

It will be held on November 25

Kiev suffering fiasco on entire front line — aide to DPR head

Igor Kimakovsky said that "if the West is not physically involved in this war, that is, if NATO is not involved, then Ukraine is actually losing"

Russia hit Ukrainian military-industrial facility in response to use of Western missiles

It is reported that the Russian Armed Forces carried out a combined strike at a Ukrainian military-industrial complex on November 21

US, NATO decision on strikes continues policy of escalation — Putin

"Experts are well aware - and the Russian side has repeatedly underscored this - that it is impossible to use these weapons without direct participation of military specialists from the countries that produce these weapons," the president said

Trump to rely on forces that brought him to power — Russian presidential aide

Nikolay Patrushev agreed that Trump, when he was still a candidate, "made many statements critical of the destructive foreign and domestic policies pursued by the current administration"

Russian troops liberate Dalneye community in Donbass region over past day

Russia’s Battlegroup South inflicted roughly 380 casualties on Ukrainian troops and destroyed a British-made howitzer and four US-made artillery guns in its area of responsibility over the past day

Russia not obliged to notify anyone about launch of intermediate-range missile — Kremlin

"No, there have been no notifications, for Russia has no such obligation with regard to intermediate-range missiles," Dmitry Peskov emphasized

Decision on strikes inside Russia seals US puppet Zelensky’s fate — commentator

The New York Times reported earlier, citing sources, that US President Joe Biden had authorized the use of US-made ATACMS tactical ballistic missiles for strikes inside Russia

Biden’s decision to use ATACMS against Russia may 'blow up in America’s face' — US expert

According to Daniel Davis authorizing US long-range weapons to be used against Russia is "foolhardy to the highest order," "especially because there is no military upside for doing so"

Top Russian diplomat to meet with Belarusian counterpart in Brest

Sergey Lavrov plans to meet with his Belarusian counterpart Maxim Ryzhenkov to exchange opinions on key issues of Russian-Belarusian cooperation and the international agenda, as well as on foreign policy coordination at international platforms

Washington has no plans of updating nuclear posture after Russia’s test of new missile

"We haven't seen any adjustments that we've observed in their nuclear posture, and we haven't adjusted our nuclear posture in exchange," Department of Defense Deputy Press Secretary Sabrina Singh said

Ukrainian conflict acquires global elements after strikes with Western missiles — Putin

It is reported that the conflict in Ukraine, provoked by the West, has acquired elements of global nature

Lukashenko tells Putin situation is "starting to get tense with Wagner"

The Belarusian leader noted that they want to go to Warsaw

US vote at UNSC rejected chance of stopping 'horrific bloodshed' in Gaza, Russian MFA says

"Once again, a chance to free the hostages, who include Russian nationals, has been missed," the statement reads

Zelensky begs ‘for his country to be flattened’ — US journalist

"Ukraine should be forever grateful that President Putin is calm, rational and kind - because Zelensky is practically begging for his country to be flattened," American political commentator Jackson Hinkle said

Pentagon sees possibility of sending more antipersonnel landmines to Ukraine

Department of Defense Deputy Press Secretary Sabrina Singh gave no direct answer to the question of how Washington was planning to control Kiev’s use of US landmines

Russian army pushes Ukraine out of Kurakhovo water reservoir’s north shore

According to Igor Kimakovsky, the only road the Ukrainian armed forces could use to leave the city is under Russia’s control

Zelensky admits Ukraine can't fight its way back to 1991 borders

Vladimir Zelensky also talked about the Crimean Peninsula, stating that Kiev is ready to "bring Crimea back diplomatically"

Ex-German chancellor never expected Russia to tolerate Ukraine’s NATO membership — memoir

Angela Merkel added that another fallacy was the belief that the status "would act as a deterrent," and that Moscow "would accept these developments without taking action"

Eliminating best enemy units: Defense Minister visits special op area

Andrey Belousov stressed that Russian troops have accelerated their advance in the special military operation zone and have effectively disrupted Kiev's 2025 military campaign

Enemy has no countermeasures for Russia’s Oreshnik missile — Putin

Speaking in a televised address, the head of state assured that Russia will issue notifications before using this type of missile

US Congressman urges to impeach Biden for allowing strikes deep into Russia

"By authorizing long range missiles to strike inside Russia, Biden is committing an unconstitutional Act of War that endangers the lives of all US citizens," Thomas Massie said

Russia’s reaction to Austrian OMV’s failure to pay for gas justified — MFA

The company stated it would seek damages amounting to 230 million euro for failing to receive the contracted volume of gas from the Russian company for delivery to Germany

NATO supports Ukraine not out of charity but for its own strategic interests — deputy head

Boris Ruge argued that NATO now has hundreds of thousands of troops that could be deployed to the alliance's eastern flank or elsewhere within ten days

Putin warns West that Russia can respond to any turn of events

"There will always be an answer," the president said

Russia interested in security of Baltic undersea infrastructure — embassy in Denmark

"It is important to ensure a thorough investigation and clarify the reasons why underwater cables in the Baltic Sea are now out of order," embassy said

Humanitarian crisis in Kiev-controlled Kupyansk district of Kharkov Region near critical

According to Yevgeny Lisnyak, the Ukrainian authorities supply water for a short time, once every three days

Russia encircles largest Ukrainian fortification in southern DPR — security services

"The enemy positioned in the fortified area in Velikaya Novoselka in the south of the DPR is already trapped in a kill zone," the source said

US makes mistake by destroying INF Treaty — Putin

The Russian leader stressed that the United States made a mistake by unilaterally destroying the Intermediate-Range Nuclear Forces Treaty in 2019 under a far-fetched pretext

ICC issues arrest warrants for Netanyahu, Gallant for alleged crimes in Gaza Strip

The Israeli side's objections concerned the court's jurisdiction over the situation in Palestine in general and Israeli citizens in particular, as well as the right of states to conduct investigations independently before referring cases to the ICC

US not seeking confrontation with Russia, but will continue assistance to Kiev — Pentagon

Department of Defense Deputy Press Secretary Sabrina Singh also claimed that Washington, while helping Ukraine, is not attempting to turn the conflict into a large-scale regional confrontation that spills beyond the country’s borders

Putin sends message to those seeking to 'add fuel to fire' before Trump’s return — expert

The likelihood of a direct armed conflict with NATO is increasing because some individuals in the alliance are ready to raise the stakes ahead of Trump’s inauguration, Andrey Bystritsky emphasized

Putin’s remarks on hypersonic missiles send serious warning to West — Turkish politician

According to the Russian president, it can install a nuclear warhead on this missile, if necessary, Deputy Chairman of Turkey’s Patriotic Party Hakan Topkurulu said

Russian air defense deflects attacks with Western missiles — Putin

"As a result, the goals that the enemy apparently set have not been achieved," the Russian leader said

IAEA once again fails to hold Kiev responsible for threats to Zaporozhye NPP — diplomat

Russian envoy to international organizations in Vienna Mikhail Ulyanov pointed out that from September 23 to November 12, the Russian servicemen suppressed 556 drones near the plant and Energodar

West launched missiles targeting Russia’s Bryansk, Kursk Regions — Putin

Russian air defenses repulsed all attacks, the Russian president said

US admiral says Washington should be ready for talks with Russia, China

The Department of State and other US agencies "should continue to engage our competitors in real and substantive dialogue," Rear Admiral Thomas Buchanan said

Time of Maduro’s visit to Russia being coordinated via diplomatic channels — embassy

Earlier this month, Russian Deputy Prime Minister Dmitry Chernyshenko handed over the Russian president’s invitation to Maduro during his visit to Venezuela

Russia’s re-election to UNCITRAL confirms its global reputation — Foreign Ministry

Russia got the support of 129 countries in a November 20 vote in New York at the 40th plenary session of the UN General Assembly

World has not seen such chaos, brutality since World War II — Kim Jong Un

The North Korean leader explained that the "shameless tricks" of the US to establish its hegemony and "the resulting discord and confrontation of all kinds" have passed the "critical point of explosion" and escalated into "unjust and terrible wars" and "catastrophic disasters"

Biden's decision on missile strikes on Russia is his 'last gasp' — Japanese lawmaker

Earlier, Muneo Suzuki emphasized on his blog that the decision that this decision by Biden on the tail-end of his presidency looked like "a last gasp"

US journalist calls US President Joe Biden’s government 'the fascist state'

Earlier, Tucker Carlson said that Joe Biden's approval of long-range missile strikes by the Ukrainian army deep inside Russia could threaten US people

Western nations should take Putin's statement seriously, warns Hungarian PM

Viktor Orban recalled that Russia has "one of the most powerful armies in the world, which boasts the most advanced, most powerful weapons"

Zelensky to have no input if Russia, US negotiate, ex-Prime Minister says

Previously, Elon Musk said on the X social platform, commenting on Zelensky’s supposition that the United States cannot force Ukraine to "sit and listen" at the negotiating table because Ukraine is an independent country, that Zelensky has an "amazing sense of humor"

Nuclear escalation of Ukraine conflict unlikely, says ex-French envoy

"In my opinion, as long as Russia has an advantage on the battlefield, and at this point it does, the risk of nuclear escalation is low," Jean de Gliniasty poited out

Russia uses aerial bombs to destroy Ukrainian positions near DPR’s Konstantinovka — source

According to the report, at least 15 Ukrainian servicemen were killed as a result of the attack

North Korean leader warns of growing risk of nuclear war — KCNA

Kim Jong Un added that negotiations with the US only confirmed the North Korean view that Washington’s hostile policy remains unchanged

NATO enters conflict, Russia has every right to attack its targets now — expert

Col. (Ret.) Lawrence Wilkerson confirmed to TASS that the launch of ATACMS missiles would be impossible without "US/NATO satellite feeds and/or personnel"

Final test launch of Russia's new RS-26 Rubezh ballistic missile successful — designer

The RS-26 Rubezh missile based on the previous RS24 Yars is expected to be put on combat dutiy in 2015.

US forces strike Houthi sites with seaborne missiles — TV

According to Al Arabiya, US warships fired at least four missiles at Houthi-operated facilities in the Al-Matina area around 90 km south of the province’s administrative center

Russian envoy calls for thorough IAEA checks of Ukraine amid declared nuclear ambitions

Vladimir Zelensky has made "a series of reckless statements about the possibility of developing nuclear weapons" lately, Mikhail Ulyanov said

Russian troops destroy Ukrainian fortification in LPR’s Makeyevka, strengthen positions

Andrey Marochko noted that the Russian forces' advances along this stretch of the front are facilitated by their control over an earlier seized strategic position, as "the activities of the assault groups are provided with cover," and "the Russian Armed Forces outnumber Ukrainian units"

NATO deployment to Ukraine would mark its entry into the war, Russian diplomat warns

According to Maria Zakharova, the Estonian minister is inciting other NATO members to engage in a venture that is "bound to fail"

Zelensky’s actions make Ukraine vulnerable to coup, says politician

"Democratic institutions in the country have been destroyed, rendering dialogue between the government and the people impossible," Viktor Medvedchuk said

Trump nominates Pam Bondi for US attorney general

Former Florida attorney general is smart and tough, and she "will do a terrific job as Attorney General," US president-elect said

Tehran to launch new centrifuges in response to IAEA anti-Iran resolution — statement

The measure is taken in response to the anti-Iran resolution adopted by the International Atomic Energy Agency Board of Governors on Thursday

Bundeswehr prepares plan for Operation Germany in case of war with Russia — newspaper

According to it, the 1,000-page "Operation Germany" plan lists all infrastructure facilities that deserve special protection, and also contains a procedure for defense or "measures to deter Russia on NATO’s eastern flank"

White House not yet ready to speak on causes of Baltic undersea cable ruptures

Two underwater cables were damaged in the Baltic Sea on November 17 and 18

US, West have no capabilities to intercept new Russian hypersonic missile — expert

"There is more in the Russian arsenal than many believe," said Karin Kneissl, the former Foreign Minister of Austria

Newly arrived Ukrainian soldiers rob, loot in Kharkov Region’s Kupyansk

According to Lisnyak, local residents report that Ukrainian military personnel are stealing furniture, transformers, construction materials and humanitarian aid remaining in the settlements, and then selling it to private business owners

Trump may soon start talks with Russia following Biden’s decision on ATACMS — news agency

According to Andreas Kluth, the decision on ATACMS may have been another attempt by the current Washington administration to provide Ukraine with support until the president-elect comes to power

Russian forces successfully advancing in all areas in special military op zone — Putin

The Russian president said that "all the goals we set for ourselves are being achieved"

Russian ambassador says UK prime minister doesn’t understand situation in Ukraine

Turning to the Labour Party’s domestic policies, Andrey Kelin said Starmer’s plans to spur the economy were "not met with applause by the population

Residents of Kupyansk, Kovsharovka in Kharkov Region returning to their homes

People are refusing to go to safer places because of Ukraine's unwillingness to provide basic sanitation for refugees

Press review: Russia fires missile at Ukraine plant and Biden forgives Kiev $4.65 bln debt

Top stories from the Russian press on Friday, November 22nd

EU considers ICC warrants against Netanyahu, Gallant as binding — foreign policy chief

According to Josep Borrell, the situation in the Gaza Strip "is apocalyptic," and "there are no more words" to describe it

Moscow hopes West will thoroughly analyze Russia's nuclear doctrine — ambassador

Andrey Kelin also recalled that the policy of the Russian leadership enjoys the full support and confidence of the country's population

Russian embassy warns UK about dangers of calling for Moscow’s ‘defeat’

According to th statement, London is promoting new rounds of escalation

Romanian presidential candidate vows to end military aid to Ukraine

It is pointed out that Simion’s popularity has propelled him to number two in the polls after Prime Minister Marcel Ciolacu

West’s decision on missile strikes gives Russia free hand to attack NATO bases — expert

According to Dmitry Suslov, retaliatory measures may include the handover of more advanced weapons to the forces "that are directly fighting against the US, particularly, in the Middle East"

Ukrainian frontline may 'collapse' under onslaught of Russian forces — BBC

According to the experts, Ukraine’s incursion into Russia’s borderline Kursk Region turned out to be a "strategic catastrophe" amid "manpower shortages"

US sanctions against Gazprombank will not affect gas supplies to Hungary — Ministry

The United States introduced sanctions against Gazprombank earlier today

Trump to continue using Ukraine to contain Russia — Valdai program director

"The US continues to benefit from the Ukrainian crisis, regardless of which administration is in power," Andrey Sushentsov said

Captives, Ukrainian losses: situation in Kursk Region

Over the day, the enemy lost more than 150 people, while five Ukrainian servicemen surrendered

Signal to West and 'red card': experts weigh in on Putin’s missile launch statements

The important message in Vladimir Putin’s speech was that "Russia does believe that the West has shifted from a proxy-war to direct war" and that the parties find themselves in "a global conflict" now, Dmitry Suslov said

China urges restraint after Russia, Ukraine's exchange of attacks — foreign ministry

Lin Jian also reaffirmed Beijing's position on the Ukrainian issue

US provides temporary carveout for Sakhalin-2 related transactions with Gazprombank

The United States introduced sanctions against Gazprombank earlier today

Japanese government refrains from commenting on Russia’s latest hypersonic missile

At the same time, Chief Cabinet Secretary Yoshimasa Hayashi once again criticized Russia’s actions in Ukraine

IN BRIEF: What Putin said about Russia’s new missile, and Moscow’s response to the West

Moscow used its new Oreshnik medium-range hypersonic ballistic missile in response to the West’s decision to authorize strategic-depth strikes on Russia

Iran begins installation of three new generations of centrifuges to enrich uranium — TV

The decision was reportedly made in response to the anti-Iran resolution of the International Atomic Energy Agency

Russia fires ballistic, non-nuclear-tipped missile at Ukrainian aerospace plant — Putin

According to the president, the missile is code-named Oreshnik, which can roughly be translated as hazel bush

Oreshnik test aims to persuade West to avoid escalation in Ukraine — media

According to the report, the use of Oreshnik has become "part of a new era of missile warfare"

Preliminary data shows anti-ship missile downed over Sevastopol waters — official

Governor Mikhail Razvozhayev said that all emergencies services currently work in the high alert mode

Press review: US lets Kiev use anti-personnel mines and Iran may halt uranium enrichment

Top stories from the Russian press on Thursday, November 21st

Russia's Oreshnik missile poses significant threat to West, Turkish expert warns

These missiles pose a threat not only to Ukraine but also to the entire Western world, including continental Europe and Great Britain, Abdullah Agar stressed

German politician slams Ukraine’s ‘irresponsible’ strike on Russia with UK-made missiles

"A diplomatic search for balance and mutual understanding should be the goal, instead of further escalation," Alice Weidel said

US warships fire more missiles at Houthi sites in Yemen — source

"The new strike targeted districts of Al-Tuhayta, Al-Ghuwarraq and Al-Jabana in the north of the province," the source said

Western countries should 'be afraid, tremble' after Putin's statement — lawmaker

Andrey Kartapolov added that the special military operation in Ukraine "will continue its course until all tasks are completed"

US is now at war with Russia, Ritter says

According to former US intelligence officer Scott Ritter, the United States "is a direct party to the invasion and occupation of Russian soil," because it helped Kiev plan its incursion into the Kursk Region

Weapons supplied to Ukraine cannot reach Russian territory, Spanish defense minister says

The New York Times reported on November 17 that US President Joe Biden had authorized the use of US-supplied ATACMS tactical ballistic missiles for strikes inside Russia

Biden's decision to use ATACMS on Russia threatens to kill Americans — Tucker Carlson

The journalist also criticized US House of Representatives Speaker Mike Johnson (a Republican representing the state of Louisiana) for "not even mentioning it in public or in leadership meetings" with factions in the lower house of Congress

Ukraine was warned about possible missile strike — Pentagon

Department of Defense Deputy Press Secretary Sabrina Singh gave no answer to the question of how could Ukraine prepare for this kind of attack

Japanese lawmaker praises Putin's restraint amid decision to strike deep into Russia

Top EU diplomat Josep Borrell confirmed that the US administration had lifted restrictions for US-supplied missiles to be used for strikes up to 300 kilometers inside Russia

Putin's speech shows West that Russia won’t waver, is ready for any scenario — expert

Dmitry Suslov pointed to a crucial message in the President's speech: "Russia firmly believes that the West has moved from a proxy war to a direct war" and that the sides are already "in a state of global conflict"