Russia and OPEC agree to reduce oil production
It became known that the parties to the OPEC + agreement agreed to reduce oil production by 1,2 million barrels. per day. It is reported by Bloomberg, and this information is very not like in the US, which counteracted this as they could.
At the same time, about 800 thousand bar. per day of this amount will fall on OPEC member countries (Organization of Petroleum Exporting Countries), whose headquarters are located in Vienna (Austria), the remaining 400 thousand bar. per day fell on the states not included in this organization.
It should be noted that the cartel made an exception for Iran, because this country came under the influence of US sanctions and did not want to reduce production by completely understandable reasons.
As for Russia, it agreed to reduce production by 200 thousand barrels. per day. Although before that, she did not want to reduce production by more than 150 thousand barrels. per day, referring to difficult climatic conditions. But Moscow made concessions, as the optimal price for crude oil for Russia is around $ 65 per bar. (barrel - about 159 liters, conditionally “barrel”)
The agreement will begin to operate in the new 2019 year, and was concluded for six months, with the possibility of revision in April 2019. In general, OPEC and the affiliated countries will reduce production by about 3% of the peak values of September-October 2018.
Trading floors have already responded to what happened. Oil prices rushed up, as the decision was a surprise for stockbrokers, who thought that the United States would not allow this.
At the same time, about 800 thousand bar. per day of this amount will fall on OPEC member countries (Organization of Petroleum Exporting Countries), whose headquarters are located in Vienna (Austria), the remaining 400 thousand bar. per day fell on the states not included in this organization.
It should be noted that the cartel made an exception for Iran, because this country came under the influence of US sanctions and did not want to reduce production by completely understandable reasons.
As for Russia, it agreed to reduce production by 200 thousand barrels. per day. Although before that, she did not want to reduce production by more than 150 thousand barrels. per day, referring to difficult climatic conditions. But Moscow made concessions, as the optimal price for crude oil for Russia is around $ 65 per bar. (barrel - about 159 liters, conditionally “barrel”)
The agreement will begin to operate in the new 2019 year, and was concluded for six months, with the possibility of revision in April 2019. In general, OPEC and the affiliated countries will reduce production by about 3% of the peak values of September-October 2018.
Trading floors have already responded to what happened. Oil prices rushed up, as the decision was a surprise for stockbrokers, who thought that the United States would not allow this.
- http://kavkazplus.com/
Information