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Russia, Saudi Arabia agree to extend May oil cuts for one month, says source

The countries’ ministries have not officially commented on the information

© AP Photo/Hasan Jamali, File

MOSCOW, June 3. /TASS/. Russia and Saudi Arabia agreed to extend the maximum level of production within the OPEC+ by at least one month. Future plans will depend on the market situation, a source participating in the negotiations told TASS.

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Brent oil price drops on news of disagreement within OPEC+

"We have agreed that it is necessary to extend it for at least a month. Then we will look at the situation," the source said. The countries’ ministries have not officially commented on the information.

The source added that energy ministers of Russia and Saudi Arabia are in constant contact and have "a mutual understanding." At the same time, according to the source, they were not satisfied with the data on May cuts in a number of other countries. "Until the quota compliance problem is resolved, the meeting will not be scheduled," the source said. Another source confirmed that only a technical meeting is scheduled for June 4, at which the parties will discuss "the impact of the coronavirus pandemic on the oil market, make forecasts for the coming months."

The OPEC+ ministerial meeting was originally planned for June 9-10, 2020. It was reported earlier that the parties would discuss further actions on the oil market.

The OPEC+ agreement came into force on May 1. It includes reduction in oil production by the alliance countries by 9.7 mln barrels per day during May-June. Russia and Saudi Arabia should reduce production by 2.5 mln barrels per day each from a level of 11 mln barrels. The remaining countries are reducing production from the level of October 2018.

The agreements will be valid for two years (until the end of April 2022), but from July to December 2020, the reduction will be 7.7 mln barrels per day and from January 2021 to April 2022 — 5.8 mln barrels. Parameters of the deal may be revised in December 2021.

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US decision to allow missile strikes deep into Russia fuels global escalation — Slovak PM

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

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Zelensky fine with conflict continuing due to Western help — Slovak PM

Robert Fico pointed out that "more and more evidence show that the West seeks to prolong the war in Ukraine for various reasons"

Russian strategic missile forces to be equipped with advanced weapon by 95%

"A large-scale investment program for expanding production capacities at defense sector organizations is being implemented", Vasily Tonkoshkurov said

WIPO members adopt Riyadh Design Law Treaty

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Commissioning of Oreshnik and new developments: Putin’s meeting with defense specialists

Here are the key statements, made during the meeting

Diplomat mocks US Senator for talking about invading Netherlands

Maria Zakharova quoted the US Senator, who called the ICC a "Kangaroo court" and ICC Prosecutor Karim Khan a "deranged fanatic"

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

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

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"

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"

Russian military to warn Ukrainian civilians of future Oreshnik attacks — Kremlin

Earlier, the Russian Armed Forces carried out a precision strike on Ukraine’s Yuzhmash defense industry facility in retaliation for the use of US-and UK-made weapons for strikes on Russia

Russia inflicts damage on gas production facilities used for Ukraine’s defense industry

Energy facilities backing Ukrainian defense industry extensively attacked

Russia hammers Ukrainian military-industrial facilities, energy sites over week

Russian forces liberated seven communities in the Donetsk People’s Republic over the past week, the Defense Ministry reported

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

Defense ministers of five European nations to meet in Berlin on November 25

The French interior ministry said earlier that an emergency meeting of the NATO-Ukraine Council will be held on November 26 following Russia using its new missile against a Ukrainian defense sector facility

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"

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

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

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

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

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Kremlin clarifies notification process for Oreshnik missile launch

"An automated warning was sent 30 minutes before the launch," Dmitry Peskov said

Bulgarian politician sees Oreshnik missile strike as wake-up call for peace

"European politicians need to think twice about what they do next, especially since Donald Trump, who will take office in two months, replacing the current White House occupant, has already expressed his commitment to the policy of peace," Krasimir Karakachanov said

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

US administration chooses to escalate Ukraine conflict — Kremlin

Earlier, Putin stressed that the Ukrainian army is unable to fire the latest Western-made long-range missiles on its own without support from NATO satellite feeds and the involvement of the bloc’s military

Over 1,200 children from Dagestan remain in refugee camps in Middle East

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Enemy losses, mercenary intrigue, humanitarian aid: situation in Kursk Region

Over the day, the enemy lost 150 troops, four motor vehicles, an artillery piece and two mortars

Illegal decisions on Russian property in Finland will not go unanswered — diplomat

Maria Zakharova noted that the Russian Embassy in Helsinki has sent requests to clarify the situation

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

Biden’s actions on Ukraine meant to 'muck things up' for Trump — Lavrov

According to the Russian foreign minister, such behavior is "typical of the Democrats"