• General
  • Trading
  • Science & Technology
  • Fashion
  • Health & Safety
  • Games
  • Key Issues
  • Legal & Judicial
  • Home
  • About Us
  • Contact Us
  • Submit News
  • Sitemap
Nepal News Gazette
Menu
  • General
  • Trading
  • Science & Technology
  • Fashion
  • Health & Safety
  • Games
  • Key Issues
  • Legal & Judicial
 › Human Rights › OPEC, Russia Seen Likely To Extend Output Curbs That Lifted Oil Prices

OPEC, Russia Seen Likely To Extend Output Curbs That Lifted Oil Prices

nepalnewsgazette.com May 25, 2017     Comment Closed     Human Rights

Russia, Saudi Arabia, Iraq, and other OPEC members who agreed last year to curb production to bolster oil prices now want to prolong the agreement, in a strong sign that an extension will be formally approved at a meeting on May 25.

The 13-country Organization of the Petroleum Exporting Countries agreed to cut production by 1.2 million barrels a day in November, while Russia, Kazakhstan, and other non-OPEC producers cut production by 600,000 barrels a day.

That deal, which has helped push up oil prices, is due to expire on June 30.

OPEC Secretary General Mohammad Barkindo said there is "growing consensus" for a nine-month extension while Iranian oil minister Bijan Namdar Zanganeh told reporters there was already apparently unanimous agreement to continue November's cut.

Saudi Arabia, Russia and Iraq came out in support of an extension earlier.

At around $50 a barrel, benchmark premium crude prices are up from lows below $30 reached in early 2016. But prices are still around half the levels reached in 2014.

The higher prices have enticed U.S. shale oil producers to increase output by nearly a million barrels a day, offsetting some of OPEC's cuts.

Copyright (c) 2015. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave NW, Ste 400, Washington DC 20036.

Human Rights

 Previous Post

Qatar Says Hackers Put Fake Story About U.S., Iran On Official Website

― May 24, 2017

Next Post 

G7 Leaders Agree On Terror Fight, Remain Split On Climate Change

― May 26, 2017

Author: nepalnewsgazette.com

Related Articles

nepalnewsgazette.com ― January 21, 2021 | Comment Closed

Call to protect the life of Ganga Maya

The National Human Rights Commission has urged the government to take effective steps to ensure justice to Ganga Maya Adhikari, and protect her life. Issuing a statement today, NHRC spokesperson Dr Tikaram Pokharel reiterated its call to implement the...

nepalnewsgazette.com ― January 21, 2021 | Comment Closed

HoR dissolution-Hearing Continues

nepalnewsgazette.com ― January 20, 2021 | Comment Closed

NHRC urges for immediate payment to sugarcane farmers

nepalnewsgazette.com ― January 18, 2021 | Comment Closed

Seven involved in timber smuggling busted

nepalnewsgazette.com ― January 18, 2021 | Comment Closed

An adolescent girl dies of HIV infection

nepalnewsgazette.com ― January 17, 2021 | Comment Closed

EC consults political parties on upcoming election

nepalnewsgazette.com ― January 15, 2021 | Comment Closed

Hearing on writs against HoR dissolution to take place in constitutional bench

nepalnewsgazette.com ― January 15, 2021 | Comment Closed

Government committed to save citizen’s life: Minister Shrestha

Advertisement

Search News

Categories

Monthly Archive

Calendar

January 2021
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Dec    

Key Issues

Cadres’ supporters’ role impt. in party: CM Pokharel

― January 21, 2021

House of Representatives was dissolved as situation of horse trading emerged: PM Oli

― January 21, 2021

President expresses confidence Nepal-US ties will be deepened during Biden’s tenure

― January 21, 2021

NC President Deuba expresses gratitude

― January 21, 2021

Human Rights

Call to protect the life of Ganga Maya

― January 21, 2021

HoR dissolution-Hearing Continues

― January 21, 2021

NHRC urges for immediate payment to sugarcane farmers

― January 20, 2021

Seven involved in timber smuggling busted

― January 18, 2021

An adolescent girl dies of HIV infection

― January 18, 2021

Advertisement

As this website is one of the renowned online
news websites of the country, it has the status to determine the path to follow for both local and regional news industries.

Follow Us


Browse By Pages

  • Home
  • About Us
  • Contact Us
  • Submit News
  • Sitemap

Categories

  • General
  • Trading
  • Science & Technology
  • Fashion
  • Health & Safety
  • Games
  • Key Issues
  • Legal & Judicial
  • Home
  • About Us
  • Contact Us
  • Submit News
  • Sitemap
© Copyright 2021. All Rights Reserved. Nepal News Gazette