▲ Up
 
05:51 24-01-2018
АКИpress CA-News Tazabek Turmush
ADVERTISE WITH US SUBSCRIBE
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Turkmenistan might join OPEC oil output cuts: Kuwait
Central Asia | business | 12:16, 24 May 2017 | 1713

AKIPRESS.COM - Saudi Arabia's oil minister has spoken to countries including Norway, Turkmenistan and Egypt which have signaled a willingness to join oil output cuts, Kuwait's oil minister said on Tuesday.

"He has talked to several countries including Norway, including Turkmenistan, including Egypt, and they have made signs of their willingness to join the collaboration," Kuwait's oil minister Essam al-Marzouq said, referring to his Saudi counterpart Khalid al-Falih, Reuters reported. 

The Organization of the Petroleum Exporting Countries meets in Vienna on Thursday to consider whether to prolong the deal reached in December in which OPEC and 11 non-members, including Russia, agreed to cut output by about 1.8 million barrels per day (bpd) in the first half of 2017.

The decision pushed prices back above $50 per barrel, giving a fiscal boost to major oil producers. But it also spurred growth in the U.S. shale industry, which is not participating in the output deal, thus slowing the market's rebalancing.

Oil prices fell 1 percent on Tuesday after U.S. President Donald Trump proposed to sell half of the United States' Strategic Petroleum Reserve (SPR) in the next 10 years as well as to speed up Alaskan exploration.  The SPR sales would not start until October 2018 and would amount to just 95,000 bpd, or 1 percent of current U.S. output.

LATEST NEWS
18:03 Hugh Masekela, South African jazz trumpeter, dies17:58 Kazakhstan responds to Belarusian criticism of suggestion to move Ukraine peace talsk from Minks to Astana17:48 In Davos, PM Isakov meets with ICRC president17:44 Kyrgyz National Conservatory Professor suspended: Ministry of Culture17:42 Ministry of Labor explains why citizens of Kyrgyzstan can not get social benefits to newborn children from January 117:36 President Jeenbekov called on regional governors to be responsible in determining regions' needs17:25 Car production at Bishkek Free Economic Zone discussed with Chinese corporation17:18 Saudi Arabia to render financial aid to Kyrgyzstan for construction of 27 schools17:08 Doctors haven't yet informed whether Tekebayev needs to be examined outside colony17:02 Owner of Garazh 312 nightclub, host "Misha orgasm” and 2 barmen taken into custody for 2 months17:01 Heiti Mäemees named Ambassador of Estonia to Kyrgyzstan16:37 49 citizens burned in bus fire in Aktobe buried in Uzbekistan16:34 53 air companies operate in Kazakhstan16:33 Alaska quake prompts tsunami alert16:20 Kyrgyz National Conservatory Professor denies she is in sex tape16:18 Remand prison #1 in Bishkek not yet transferred due to lack of money – State Penitentiary Service16:02 Jeenbekov ratifies agreement with Uzbekistan on delegation of responsibilities for air traffic services15:59 Russian nationalist leader Vladimir Zhirinovsky proposes to lease Issyk-Kul lake in exchange for writting off Kyrgyzstan's debt15:49 Tekebayev's leg swollen, he needs medical aid, says Ata Meken party member15:44 State Penitentiary Service offers to ease extradition of foreign citizens
© AKIpress News Agency - 2001-2018. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)65-03-06