Economy

OPEC+ agrees to cut oil production in October

It was agreed to reduce oil production by 100,000 barrels per day by October. Photo: Courtesy Ecopetrol The OPEC+ agreed to make a symbolic oil supply cut by October, a surprise move that shows the alliance is seeking to stabilize world markets after a shaky economic backdrop triggered the longest price decline in two years. The group will reduce production by 100,000 barrels per day next month…
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Economy

Oil predicted a deafening crash: prices fell by half

In the coming weeks, the cost of a barrel of oil may soar to an unprecedented level – $ 150. Both foreign and domestic analysts are confident in the new absolute world record. The main reason is the EU embargo on Russian oil supplies. However, according to some…
Economy

Traders pour "toxic" Russian oil directly on the high seas

Sellers are looking for ways to circumvent European sanctions The sixth package of EU anti-Russian sanctions, which imposes serious restrictions on the export of domestic oil, only fueled the interest of buyers in seemingly “toxic” raw materials from the Russian Federation. Efficient traders use any means to earn extra money on the resale of hydrocarbons from our country, without violating…
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Economy

OPEC+ would maintain production plan despite sanctions on Russia

The flag of the Organization of Petroleum Exporting Countries (OPEC) stands on a desk ahead of a news conference at the 175th Organization Of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Thursday, Dec. 6, 2018. The Organization of Petroleum Exporting Countries and its allies are desperate to shore up oil prices after a slump of more than $20 a barrel since October.
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Economy

G7 asks OPEC for more oil and makes new climate promises

The G7 reaffirmed its commitment to the elimination of inefficient fossil fuel subsidies by 2025EFE/Ronald Wittek. Photo: RONALD WITTEK “We call on oil and gas producing countries to act responsibly and respond to the adjustment of international markets, noting that…
Economy

Bloomberg brought the Russian economy back thirty years

Western agency predicts a new financial anti-record for our country This year may become the most disastrous period of time for the economy of our country over the past three decades. According to Bloomberg, a forecast is being worked out in the bowels of the Ministry of Finance of the Russian Federation, according to which the loss of domestic GDP in 2022 will amount to 12%, which has not been…
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