{{dayPoint.date | date : 'd MMMM yyyy'}}

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

World oil prices

Russia’s energy minister expects OPEC+ deal to bring oil market into balance

In May 2017 OPEC and non-OPEC nations extended the agreement until April 2018

SOCHI, October 18. /TASS/. Russia’s Energy Ministry expects the agreement on oil production cap between OPEC and non-OPEC nations to bring the crude oil market into balance in the first half of 2018, the Minister Alexander Novak said Wednesday.

Read also

Aleksandr Novak: Forecasting is unrewarding business

"Hopefully the market will get into balance by the middle of next year or in the first quarter of next year if the trend of falling [oil] supply persists," he said, adding that this will "bring the demand/supply into balance."

According to Novak, the agreement has helped reduce excessive oil supplies two-fold versus the average five-year level.

In late 2016, OPEC member-states and 11 independent oil-exporting countries entered into an agreement to reduce oil production. According to that agreement, during the first half of 2017 the participants were to withdraw 1.8 million barrels per day from the oil market in comparison with the level of October 2016.

In May 2017, at the meeting in Vienna, the countries extended the agreement until April 2018, maintaining the previous quotas for all participants. The purpose of the agreement is to reduce global oil reserves to the average level of the last five years.

Tags

Oil & Gas Alexander Novak Oil price

Eastern Economic Forum

Development of Sino-Russian cooperation to be main topic of AmurExpo forum

AmurExpo is the off-site venue of the Eastern Economic Forum

Armenia remains engaged with CSTO — head of post-Soviet security bloc

Imangali Tasmagambetov noted that "relations between the CSTO and Armenia, which is a member state of our organization, are far from being at their best"

Top Russian security official praises Republika Srpska’s principled position on Ukraine

"In this context, we particularly appreciate the principled position against joining the sanctions regime, your firm and consistent line on the Ukrainian crisis is particularly valuable for us," Nikolay Patrushev pointed out

Revival Party leader released after being questioned by Moldovan special services

According to Natalia Parasca, around 100 delegates to the Moldovan opposition forum in Moscow were held at the Chisinau airport for about three hours

Damage to TV tower in Kharkov causes problems with digital TV signal

Earlier, Ukrainian media reported an explosion in Kharkov, which was cofirmed later by Mayor Igor Terekhov

Gagauzian leader on unity of Moldova’s opposition, ability to watch Russian TV channels

Yevgenia Gutsul underlined that Gagauzia plans to start exporting products to Russia in the near future

US 'not forgetting' to help itself with aid to Ukraine — Kremlin

"In any case, whatever the modality of providing this aid, de facto it is about provoking Ukraine into further hostilities down to the last Ukrainian, putting guarantted money in the pockets of the US," Dmitry Peskov said

Ukraine’s military intelligence chief recognizes Russia’s success in Avdeyevka

Ukrainian troops suffered significant losses in the fighting for the control of this town

West balancing on edge of direct military confrontation between nuclear powers — Lavrov

According to the top Russian diplomat, it is especially concerning that the three Western nuclear powers are among the key sponsors of the Kiev regime and the main initiators of various inflammatory moves

Modern weapons make up 82% in Russian air defense troops — Shoigu

"The Kiev regime has failed to achieve the goals of its counteroffensive prepared by NATO instructors," the defense minister said

Russia ready to offer access to Asian markets to partners in BAM upgrade — Putin

"To this end we intend to implement plans of expedited upgrade of BAM, the Trans-Siberian Railway, development of the entire eastern range of railroads on the basis of advanced technologies," the Russian President said

Most agents at Security Service of Ukraine set on war with Russia — former officer

Vasily Prozorov said that "it is extremely difficult to count on any better judgement on their part"

Ukrainian connection to Crocus terrorist attack undeniable — ex-SBU officer

Vasily Prozorov noted that the perpetrators could have been eliminated once they crossed the border

Ukrainian intelligence predicts dire situation from mid-May onward

Kirill Budanov acknowledged that the Ukrainian army had long experienced problems on the frontline

Hamas threatens that hostages remaining in Gaza may go missing

Spokesman for the Izz ad-Din al-Qassam Brigades Abu Ubaida emphasized that at the moment "the ball is in the court of Israel's allies," but "time and opportunities are limited"

Russian troops liberate Novomikhailovka community in DPR — top brass

Russia’s Battlegroup West repulsed four Ukrainian army counterattacks over the past day, the Defense Ministry reported

Russia has significant amount of West’s funds in case of confiscation of its assets

Russia views the West’s encroachment on its assets as "a blatant and shameless theft for the purpose of lining its pockets," Maria Zakharova noted

Russia scraps plans to hold Immortal Regiment march in 2024 amid security threats

This year, the May 9 festivities will take the form of other events, Yelena Tsunayeva noted

International meeting of security representatives opening in St. Petersburg

Moreover, discussions within two theme-based roundtables will be held

Russian peacekeepers heading for temporary deployment centers in Armenia

The Armenian government provided Russian peacekeepers in Nagorno-Karabakh with places for temporary deployment in Goris and Sisian

Russia presents world’s first hydrogen-fueled luxury car at Innoprom exhibition

The unique vehicle was built on the basis of the Aurus Senat luxury car

Chinese diplomat cautions US against 'demonizing' China-Russia relationship

The diplomat also called on Washington to "immediately stop imposing unilateral sanctions on Chinese companies and individuals"

Conflict in Ukraine can be over by end of 2025, Hungary’s Orban believes

Prime Minister said that it is possible if proponents of peace, not war, win the June elections to the European Parliament and the US Presidential elections in November

Gaza settlement crucial for Islamic world, Erdogan believes

In his opinion, it would be a mistake to view the Gaza issue solely from the perspective of October 7, 2023, when the Palestinian-Israeli conflict sharply escalated

EU may sanction 10 firms for allegedly shipping weapons tech to Russia — Bloomberg

According to the agency, the companies being assessed for potential sanctions are based outside Russia but have links to Russian and Belarussian individuals and firms

London grants agrement to Zaluzhny as ambassador to UK — Ukrainian parliamentarian

This must be followed by a decree of the Ukrainian president on the appointment

Press review: Dissecting US aid package to Ukraine and sands of global economy shifting

Top stories from the Russian press on Monday, April 22nd

Russia looking to open diplomatic missions in South Sudan, Niger, Sierra Leone — diplomat

According to Alexey Klimov, in 2023, almost 30,000 temporary entrance (return) permits were issued abroad and over 460,000 foreign passports were issued

Azerbaijanian leader says reaching peace with Armenia by November 'quite realistic'

According to Ilham Aliyev, the option of coordinating a basic agreement is also being considered

NATO has no plans to deploy nuclear forces in Poland — Stoltenberg

NATO Secretary General did not immediately understand the reporter’s question, forcing the reporter to explain that they were referring to the idea of deploying nuclear weapons in Poland

US authorities prepare military aid for Ukraine worth $1 bln — Reuters

The aid package includes vehicles, Stinger man-portable air defense system munitions, HIMARS rockets, 155-mm artillery shells, TOW and Javelin anti-tank missiles and other weapons that could be "used at the battlefield immediately"

Russia recovers black boxes from crashed Tu-22M3 bomber

According to the law enforcement, the search for the fourth crew member is ongoing

Dollar almost completely gone from Russia-China trade relations — Lavrov

"The supply of our agricultural products to the Chinese market is growing," the top Russian diplomat noted

Russia invites all countries to develop North - South transport corridor — Putin

"The North-South transport corridor should become an example of the broadest international cooperation," the Russian leader said

Russia expects Xi Jinping to attend BRICS summit in Kazan — Lavrov

On January 1, Russia assumed the rotating presidency of the BRICS group of nations, which currently brings together ten states

Rosatom denies reports about flooding of uranium deposit wells in Kurgan region

To prove the situation on the ground, Rosatom is ready "at any time to organize a visit of representatives of media and regulatory authorities to the field," ARMZ said

Belarusian air defense registers increased number of NATO aviation sorties

"This is dozens of sorties, carried out along the same routes, more or less", said Belarusian Air Force and Air Defense Deputy Commander Colonel Lieutenant Eduard Zhmakin

Army officer some media point to as Nord Stream blasts coordinator goes missing in Ukraine

The man, Roman Chervinsky, was under arrest in the case of a failed operation to recruit a Russian pilot

Ukrainian troops fleeing Ocheretino in small groups, says DPR

"There is one more or less suitable road but it is also being shelled," adviser to the DPR head Igor Kimakovsky said

Flow of cargo traffic via North-South transport corridor to reach 60-100 mln tons

The presidents of Russia and Azerbaijan, Vladimir Putin and Ilham Aliyev, met with veterans, builders and employees of the Baikal-Amur Mainline on Monday

South Korea threatens to end North Korean 'regime' in case it uses nuclear weapons

Extended deterrence refers to Washington's willingness to use all means, including nuclear, to defend an ally

Eleven Russians dead, 48 injured in Ukrainian strikes over week

Rodion Miroshnik pointed out that over the past week, Ukrainian forces fired "at least 1,278 rounds of ammunition" at the civilian facilities in the border regions

Throughput capacity of Baikal-Amur Mainline surging threefold in twelve years

Shipments over the Eastern Range uniting BAM and the Trans-Siberian railroad is to reach 270 mln metric tons per year over the ten-year period, the head of state said

Kremlin vows legal action against US bill on seizing Russian assets

Dmitry Peskov noted that the trial will be "very complex," but will cause severe damage to US economic interests if the US authorities finally approve the bill regarding Russian assets

Lenin Museum in Finland's Tampere to shut down in November

According to the report, the New Museum of Relations with the East will open on the same premises on February 15, 2025

Press review: GOP tussles over Ukraine bill and Putin, Aliyev talk partnership

Top stories from the Russian press on Tuesday, April 23rd

US has no idea what to do about Zelensky — Seymour Hersh

According to the journalist, the decision to conduct the operation was made by US President Joe Biden personally, following nine months of discussions with White House national security advisers

Russia to incorporate US nuke scenario in Poland in its military planning — diplomat

"Poland’s authorities make no secret of their striving to lean closer on the US nuclear weapons deployed in Europe and are actively using these ambitions in their hostile Russian policy," Maria Zakharova stressed

Ukraine says Western systems ineffective against Russia's electronic warfare

Maria Berlinskaya emphasized that the real effectiveness was determined in real combat conditions, and not at "some training ground in Texas"

Russian missile cruiser Varyag enters Mediterranean Sea

The ship's crew continues to fulfill the mission it was given for the long-range voyage

Ukrainian army strikes own surrendering soldiers — POW

Andrey Babenko said that after a crash course in Britain he had been sent to the frontline near Liman

EU reacts to worsening of situation for Ukraine by preparing for new world war — Szijjarto

The Hungarian Foreign Minister noted that the participants of the EU foreign and defense ministers meeting "did not challenge the information about the degree of Russia’s arms superiority"

Confiscation of Russian assets by the US to affect Europe more — expert

The US decision may provoke panic among investors that would start withdrawing their funds from European banks, being concerned of their freeze and further confiscation

Ukrainian forces refuse to obey Commander-in-Chief Syrsky — CIA ex-analyst

Larry Johnson also noted that the Russian forces manage to advance recently despite the slush on the roads

Russia sees tendency for Latin America to become one of multipolar world order centers

"The very fact that the Community of Latin American and Caribbean States returns back to its roots is a good sign," Russian Foreign Minister Sergey Lavrov said

Qiwi projects $247 mln loss over sale of Russian assets

Moreover, Qiwi plc acknowledged impairment by $155 mln in 2023 due to the same reason

Scholz says era of fossil fuel will be over soon

The chancellor also said Germany will make every effort to produce 80% of its energy from renewable sources by 2030

Nicaragua, Russia sign declaration to counter illegal sanctions — vice president

The document "contains provisions on methods to counter, mitigate and compensate for the negative consequences of this aggression," Rosario Murillo said

NATO’s backing of Kiev’s strikes beyond special op area makes peace unachievable — expert

"The position of the majority of Western states negatively affects the probability of a peaceful settlement of the conflict, creating a risk of further escalation," Jiraporn Ruamphongphatthana believes

Putin’s inauguration to take place on May 7, senator says

According to the law, the president-elect takes office for six years

Value of frozen Russian assets in Switzerland drops to $6.36 bln over the year

The Swiss authorities pointed out that the value of assets of the Bank of Russia "may fluctuate in either direction, notably as a result of valuation changes on frozen securities, bank charges and exchange rate movements"

North Korea stages first combined tactical drill simulating nuclear counterattack — KCNA

The drill’s main purpose is to demonstrate the reliability, superiority, might and diverse means of the DPRK's nuclear force

Switzerland unblocks Russia-related assets worth 290 mln Swiss francs

The total amount of blocked assets of the Russian Federation decreased by 150 million Swiss francs (about $165 million) due to the fact that a number of individuals "were removed from the EU sanctions lists"

Moldova’s top prosecutor suspects treason behind creation of Pobeda bloc

Prosecutors fear that the creation of the bloc may pose risks to Moldova’s national security as they prosecute several politicians who established the bloc in Moscow, Ion Munteanu said

Russia’s top brass reports destroying US-made Hawk air defense system in Ukraine operation

Russia’s Battlegroup South inflicted casualties on personnel and equipment of two Ukrainian army brigades and improved its tactical position over the past day, the Defense Ministry reported

NATO, Poland made no decision on deployment of nuclear weapons — Andrzej Duda

Polish President pointed out that this issue is being raised during his meetings with NATO partners from time to time

Baku cannot turn blind eye to France, India, Greece arming Armenia — President Aliyev

"If we see a serious threat to us, we will have to take serious measures," the Azerbaijani President warned

Russian troops destroy four boats with Ukrainian assault force on Dnieper River

Russia’s Dnepr Battlegroup inflicted casualties on the 141st, 65th and 128th brigades of Ukrainian armed formations, delivered strikes on temporary deployment sites, military hardware and artillery positions of the Ukrainian army on the right bank of the Dnieper River, Vladimir Saldo said

Liberation of Novomikhailovka brings closer encirclement of Ugledar, says DPR official

On Monday, the Russian Defense Ministry said the village had been liberated

Russia’s UN envoy, Serbian leader discuss coordination on Kosovo at UN

They "exchanged opinions on a wide range of pressing bilateral and international issues while focusing on the situation in the Balkans," the Russian diplomatic mission to the UN said

Russian troops level off frontline near Kremennaya in LPR for further advance

Russian combat aircraft and artillery "have begun to operate more intensively" at that frontline, delivering "precision strikes" on the Ukrainian army, Andrey Marochko said

US expert says more ATACMS won't alter battlefield dynamics in Ukraine

"There is no magic weapon, there is no series of weapons that could change this" situation for the Ukrainian armed forces, Scott Ritter said

Russia firmly ready for peace solution in Ukraine — Kremlin spokesman

"There has been no new peace initiative, there has been a statement of the fact of Russia's readiness for a peace solution to the Ukrainian problem," Dmitry Peskov said

Republika Srpska president praises Moscow-Banja Luka relations, favors strengthening them

Milorad Dodik also touched upon the topic of sanctions mentioned by Patrushev earlier

Current Russian turn eastward possible owing to Baikal-Amur railway — Putin

BAM personifies giant labor and courage of two million very young people from across the entire Soviet Union, the Russian leader said

Armenia purchasing only defensive weapons — PM

Yerevan's defense spending is 15-20% of what Azerbaijan spends on it, Nikol Pashinyan said

Ukraine lost best fighters near Artyomovsk, retired general says

Sergey Krivonos added that relocation of troops from one direction to another will not solve Ukrainian forces’ problems, and that each fighter should be used according to their specialization

Romanian rescuers find Ukrainian deserters who spent four days in mountains

Romanian media regularly report the discovery of young Ukrainians in the mountainous terrain on the Romanian-Ukrainian border

New anti-Russian sanctions to include ban on LNG supplies — Swedish Foreign Minister

Tobias Billstrom deemed adopting the 14th sanctions package "one of the most important things"

Russian deputy defense minister detained on suspicion of bribe-taking

"Russian Deputy Defense Minister Timur Vladimirovich Ivanov was detained on suspicion of committing a crime under part 6, article 290 of the Russian Criminal Code," the Russian Investigative Committee said

Almaz-Antey adapts air defense launchers for various missiles

Russian air defense launchers have a bigger range than US Patriot in Ukraine, Sergey Druzin said

Beijing condemns US hypocrisy around Ukraine conflict

Foreign Ministry Spokesman Wang Wenbin reiterated that China "is not an instigator or a party to the Ukrainian crisis and has never fanned the flames of the conflict, not to mention, used the situation for its own purposes"

Russian economy to see serious structural changes — presidential aide

"The first one is the technology agenda, the very large one, with huge demands for our own small, medium and large solutions," Maxim Oreshkin said

Raisi doubts 'Israeli regime' to exist in case of its attack on Iran

"If Israel makes a mistake and attacks Iran, completely new conditions will emerge for it and it is unclear whether anything will be left of the Israeli regime at all," the presidential press service quoted Raisi as saying

Duda's Kaliningrad nuke rhetoric political stunt — Russian senator

Alexander Shenderyuk-Zhidkov emphasized that Russia would decide for itself what was required to ensure the safety of its citizens

Destroyed TV tower in Kharkov carried Ukrainian air defense coordination device — official

Digital TV signal interruptions are now observed in the city

Ukraine 'not in a position to win' against Russia — Spanish reserve colonel

"The Western world cannot accept Ukraine's defeat, because from the point of view of our security, a Russian victory in the war would be a failure," Francisco Rubio pointed out

Moscow Zoo delegation arrives in North Korean capital — media

Russia and North Korea have intensified bilateral exchanges since late 2023

Top Hungarian diplomat warns US-NATO-EU competition in Ukraine could spark WWIII

"Preparations for a world war are intensifying in Brussels," Peter Szijjarto warned

Putin informed about detention of Deputy Defense Minister Ivanov

Minister Sergey Shoigu was also informed beforehand, Russian Presidential Spokesman Dmitry Peskov said

Russian forces take Ukrainian strongholds near Klescheyevka under control

Apty Alaudinov posted a drone video footage of elimination Ukrainian personnel and Russian forces capturing enemy trenches

Assad says sure Russia will win conflict in Ukraine, re-unite brotherly peoples

Russia, in his words, is "correcting what others have done"

West battlegroup destroys two Ukrainian drones, hit over 170 Ukrainian army’s facilities

The battlegroup’s spokesman Ivan Bigma said that a Gvozdika self-propelled system, nine mortar squads, two Furiya fixed-wing type unmanned aerial vehicles were destroyed

Russian presidential envoy visits Afghanistan to discuss political cooperation

Russian presidential envoy for Afghanistan Zamir Kabulov met with Deputy Prime Minister for political issues Abdul Kabir, Foreign Minister Amir Khan Muttaqi, and Interior Minister Sirajuddin Haqqani

Chinese car plant to start production at former Mercedes site in Moscow region in May

Earlier it was reported that the German automobile concern Mercedes-Benz plans to sell its enterprise located in the Solnechnogorsk district of the Moscow region

Mobilization law condition for new supplies of arms to Kiev by NATO — source

Arms supplies are only reasonable if a large number of military personnel able to use those weapons in defense and assault operations is available

Pobeda bloc expects global community to respond to struggle against opposition in Moldova

The opposition suggests that Moldovan President Maia Sandu is behind the law enforcement officers’ actions

Senior lawmaker threatens US with retaliation for 'stealing' Russian assets

"Now, our country has every reason to make symmetrical decisions against foreign assets," Vyacheslav Volodin said

Weapons for new US package for Kiev yet to be found — Ukrainian ambassador

Oksana Markarova explained that $4 billion worth of weapons that was to be provided under the previous decisions still remained undersupplied

Over 14,700 residential houses remain flooded in Russia

The source also said that 38,302 Russians have been evacuated from flooded areas and settlements potentially falling into these zones since the beginning of the spring floods

Over 280 recovered from mass grave at hospital in Khan Yunis — TV

The operation to recover bodies of people killed in Israeli bombardments continues in the city