Tag Archives: Russia

There could be more cuts if there are other non-OPEC countries that will join the agreement.

OPEC members agreed in November to cut production by 1.2 million barrels per day for six months.

An extension of the OPEC agreement will not be enough to raise global oil prices significantly.

Saudi Energy Minister Khalid al-Falih said on Monday the OPEC-led production cut could be extended beyond 2017.

The cost of the project. announced in late 2014. was seen between $12 and $13 billion.

Russia has agreed to cut its oil output by 300.000 barrels per day under the OPEC deal signed in Vienna.

Iran'.s power grid is linked to 7 neighbors and these electricity links will soon be connected to Georgia and Russia.

Azerbaijan has been the main exporter of gas to Georgia for many years.

Russian oil production declined by 254.000 bpd from April 1-26 compared with the reference level of October.

A number of major Middle East crude producers countries reached an initial agreement last week to extend output cuts beyond their June expiry.