Moscow: Russian Deputy Prime Minister Alexander Novak told reporters that Russia and a number of other OPEC+ nations will cut oil production rather than exports in the second quarter of this year in order to match other nations' contributions to the overall reduction. Novak was asked how the decision to extend the cuts related to statements made earlier in the day that the market is in balance. He added that the move is to guarantee that every nation contributes equally to the decrease in output. "As you may remember, we only suffered a 5 percent decrease in exports not the same percentage as other nations. The time has arrived for us to cut output rather than export it," he said. Source: Jordan News Agency
Related Articles
Qatar Hosts 9th Meeting of GCC Assistant Ministers of Islamic Affairs and Endowments on Sunday
Doha: The State of Qatar, represented by the Ministry of Endowments (Awqaf) and Islamic Affairs, will host the 9th meeting of Their Excellencies Assistant Ministers of Islamic Affairs and Endowments of the Gulf Cooperation Council (GCC) countries on S…
Kuwait Amir accepts gov’t resignations, instructs it to act as care-taker
KUWAIT, His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah accepted Sunday resignation of His Highness the Prime Minister Sheikh Mohammad Al-Sabah Al-Salem Al-Sabah.
An Amiri Order, signed by his Highness the Amir, accepted the government…
Preparatory activities for Al-Jawf women on Prophet’s Birthday anniversary
The Preparatory Committee for the Free Women of Al-Jawf province launched preparatory activities to celebrate the Prophet’s Birthday anniversary (PBUH).
The areas of Anbah, Al-Muqashib, Kahila and Al-Zahir district center witnessed separate events to…