OPEC+ Considering New Oil Production Cuts

Wall Street Journal: OPEC+ Mulls New Oil Production Cuts Amid Middle East Conflict

OPEC and its Russia-led allies are considering new oil production cuts of as much as 1 million barrels a day, delegates said Wednesday, despite tensions in oil markets amid the conflict in the Middle East.

The move, which would likely send oil prices higher, could be announced Thursday at a virtual meeting of the cartel. The meeting, originally scheduled for last week, was postponed over disagreements about production.

A deal for further cuts isn’t assured, and the prospect is facing significant resistance within the Organization of the Petroleum Exporting Countries. A rollover of most existing output curbs is the most likely scenario, the delegates said, but talks are continuing.

Read more ....

Update: OPEC+ oil producers head into meeting with quota unease and geopolitical risks casting a shadow (CNBC)

WNU Editor: I am still betting on OPEC+ imposing deep production cuts next year for the sole purpose of influencing/impacting the US Presidential election.

from War News Updates https://ift.tt/4JcfjLs
via IFTTT

Comments

US And Russian Chiefs Of Staff Discuss Ukraine In Rare Phone Call

U.S. Chairman of the Joint Chiefs of Staff Gen. Mark Milley (left) and his Russian counterpart Valery Gerasimov (file photo) The Hill: Milley speaks with Russian counterpart for first time since start of war Chairman of the Joint Chiefs of Staff Gen. Mark Milley spoke with his Russian counterpart on Thursday, the first such conversation between the two since the Kremlin’s invasion of Ukraine began in late February, according to the Pentagon. Milley spoke by phone with Valery Gerasimov, chief of the Russian general staff, and they “discussed several security-related issues of concern and agreed to keep the lines of communication open,” Joint Staff spokesperson Col. Dave Butler said in a readout of the conversation. The Pentagon did not provide further information on the conversation. Read more .... WNU Editor: So much for the reports last week that Chief of the General Staff of the Armed Forces of Russia Valery Gerasimov was fired b...

Is Putin's Inner Circle Already In Discussions On Who Is Going To Replace Him?

Russian President Vladimir Putin leads a meeting on economic issues in Moscow on Monday. (Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP) Daily Beast: Putin’s Own Men Are Already Discussing Who Will Replace Him Three months into Vladimir Putin’s bloody “special operation” in Ukraine, his own men in the Kremlin are reportedly discussing who will replace him. That’s according to new reporting by the independent news outlet Meduza, which cited several sources close to the Russian presidential administration who said officials are increasingly fed up with Putin personally. Some of Putin’s own allies within the Kremlin walls have reportedly floated the idea of Moscow Mayor Sergei Sobyanin becoming his successor, or former President Dmitry Medvedev, who is now the deputy chairman of the Security Council. Sergei Kirienko, the first deputy chief of staff of the presidential administration, was also said to have been discussed as a contender. Read mor...

China's shipyard CSSC launches 1st Pakistani Hangor class submarine PNS Hangor

According to information published by the Pakistani MoD on April 26, 2024, the Hangor class submarine PNS Hangor was launched by the Chinese shipyard CSSC. This submarine is a part of the Hangor-class, which itself is based on the Yuan-class Type 039B submarines provided by China. Read full news at this link Hangor class submarine PNS Hangor. (Picture source: Pakistani MoD) Read more from World Defence News https://ift.tt/dgQWhs7 via IFTTT

MTQ News

Search This Blog