Adjust the level of overall crude oil production for OPEC and non-OPEC Participating Countries in the DoC to 40.46 mb/d, starting 1 January 2024 until 31 December 2024, which is to be distributed as per the attached table.

The kingdom’s energy minister Prince Abdulaziz bin Salman, Opec’s de facto leader, made the move as part of a deal in which several weaker African members will have quotas reduced from next year.

Earlier this year Russia introduced a voluntary cut of 500,000 b/d from March after EU sanctions on imports of most Russian oil and G7 price caps came into force.

Уникальная транспортная артерия “Север – Юг”, частью которой станет железная дорога Решт – Астара, поможет существенно диверсифицировать глобальные транспортные потоки.

China currently has the second largest number of nuclear plants globally comprising 56 reactors, with 20 units under construction, which will account for 10-15% of power production by 2035.

They expressed satisfaction with the level of coordination at OPEC Plus aimed at ensuring the global oil market stability.

Since Western sanctions over the war in Ukraine cut off Russia from many of its established trading partners, state companies from Saudi Arabia and the United Arab Emirates have stepped in to take advantage of discounted prices for Russian products,

Делегаты встречи подтвердили приверженность решению альянса от 5 октября 2022 года по ограничению добычи нефти на 2 млн баррелей в сутки (к уровню августа 2022 года) до конца 2023 года, а также призвали все страны-участницы добиться полного соответствия условиям соглашения и придерживаться компенсационного механизма.

This will bring the total additional voluntary production adjustments by the above-mentioned countries to 1.66 million b/d.

Since Turkey can legitimately still import diesel-type fuel from Russia, traders can potentially bring in relatively cheap barrels to meet the country’s energy needs. At the same time, Turkey’s own production could be sold at a higher price to the EU.

Both sides expressed satisfaction with the positive dynamic of trade and economic relations, the successful implementation of joint strategic power engineering projects, including gas supplies, and the construction of the Akkuyu Nuclear Power Plant in Türkiye.

In October, OPEC and its partners took the unusual step of assigning fixed production targets for a full year ahead. Key officials have indicated they intend to leave the quotas unchanged throughout 2023, and the comments from Prince Abdulaziz bin Salman are the most emphatic to date.

CNPC's talks follow a deal announced last November by China's Sinopec, in which QatarEnergy agreed to supply 4 million tonnes of LNG annually for 27 years, the longest duration LNG supply contract ever signed by Qatar.

Moscow’s move deepens the 2 million barrel-a-day production cut announced late last year by OPEC+, which Russia leads along with Saudi Arabia.

Александр Новак подчеркнул, что позиции России и Ирана созвучны по целому ряду направлений международной повестки. Обе страны нацелены на равноправный, взаимовыгодный диалог и остаются надёжными деловыми партнёрами.