Supplies from the Organization of Petroleum Exporting Countries increased by 370,000 barrels a day to 29.9 million a day in October, according to a Bloomberg survey. The gain was tempered by reductions in Iraq, Iran and Saudi Arabia.

“In the past three months, my visiting Russia twice demonstrates our close relationship and deepening friendship,” Modi said Tuesday in televised remarks. Putin also praised the “strategic partnership” between the two countries.

BRICS member countries currently have 390 GWe of operable nuclear power units with a further 66 MWe under construction.

The JMMC emphasized the critical importance of achieving full conformity and compensation.

Iranian President Masoud Pezeshkian said on Monday that an agreement to transform Iran into a regional transit and gas hub is a prime example of cooperation between Tehran and Moscow.

The ministers also signed a Declaration of Russia and Syria on Ways and Means of Countering, Mitigating and Compensating the Negative Consequences of Unilateral Coercive Measures.

The Saudi Power Procurement Company (SPPC) has launched a tender to procure 4.5 GW of solar and wind energy projects across Saudi Arabia.

With the platform, Türkiye will launch the second phase of production at the Sakarya Gas Field, Energy and Natural Resources Minister Alparslan Bayraktar said on Friday.

The shift in thinking represents a major change of tack for Saudi Arabia, which has led other Opec+ members in repeatedly cutting output since November 2022 in an attempt to maintain high prices.

In recognition of this strengthened resolve and renewed firm commitment, the eight participating countries have agreed to extend their additional voluntary production cuts of 2.2 million barrels per day for two months until the end of November 2024,

Led by Saudi Arabia and Russia, the Organization of Petroleum Exporting Countries and its allies are due to add 180,000 barrels a day as they gradually restore output that’s been halted since 2022.

The Russian Federation retains its full commitment to the OPEC Plus agreement.

The Joint Ministerial Monitoring Committee (JMMC) reviewed the crude oil production data for the months of May and June 2024 and noted the high overall conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC).

Discussions also included the possible implementation by Rosatom of a project for the construction of a second NPP at Sinop. Rosatom said possible design solutions would be based on the wishes of the Turkish side to strengthen the effect of the project on the Turkish economy.

Saudi Arabia has some of the biggest gas reserves in the world. Development of the Jafurah field, estimated to hold 200 trillion cubic feet of gas, is expected to cost $100 billion and boost the firm’s gas production more than 60% by 2030.