The OPEC+ alliance, co-chaired by Russia and Saudi Arabia, last week agreed to cut its production by 2 million barrels a day, the biggest reduction since 2020.

Iraq's Ministry of Oil has announced preliminary oil exports for September of 98,765,153 barrels, giving an average for the month of 3.292 million barrels per day (bpd), slightly up from the 3.286 million bpd exported in August.

Adjust downward the overall production by 2 mb/d from the August 2022 required production levels, starting November 2022 for OPEC and non-OPEC Participating Countries

Russia currently forecasts a further drop in Urals oil price over the next three years – to $70.1/b in 2023, $67.5/b in 2024, and $65/b in 2025. Its 2022 forecast is $80/b.

The current gas crisis also casts longer-term uncertainty on the prospects for natural gas, especially in developing markets where its use was expected to rise at least in the medium term as it replaced other higher-emission fossil fuels.

The two sides discussed pressing bilateral issues and expressed a mutual commitment to pursue Russian-Bahraini relations in a traditionally friendly, mutually beneficial and constructive manner.

В телеграмме, в частности, отмечается: «Убеждён, что Ваша деятельность во главе Правительства будет способствовать дальнейшему развитию традиционно дружественных и партнёрских российско-саудовских отношений.

An International Atomic Energy Agency (IAEA) team of experts said Türkiye’s nuclear and radiation regulator showed commitment to continuous improvement of safety and the protection of people and the environment.

We are finalising a new major Russian-Iranian treaty that will elevate our relations to the level of strategic partnership.

Revert to the production level of August 2022 for OPEC and non-OPEC Participating Countries for the month of October 2022 as per the attached table, noting that the upward adjustment of 0.1 mb/d to the production level was only intended for the month of September 2022.

They reaffirmed their commitment to expand trade and economic relations, including promoting joint strategic projects in energy.

OPEC will earn about $842 billion in oil export revenue in 2022, the most inflation-adjusted net oil export revenue for the group since 2014, when they collectively earned nearly $992 billion.

Iranian oil production has held at 2.58 million b/d for the four months through July,

Overall, the planned total capacity of the MBR solar park is 5 GW, to be reached by 2030.

The price of OPEC basket of thirteen crudes stood at $99.66 a barrel