Tag: OPEC

Oil producing companies of Russia supported the deal, OPEC+ and confirmed their readiness to follow its terms. This was announced by Minister of energy Alexander Novak. He also noted the important role of the President in entering into a new agreement on oil
Late in the evening of 12 April (outside of signing of this number in print), the energy Ministers of the OPEC countries+ will hold a new videoconferencia – apparently, for the final initialling of the text of the agreement on joint reduction in the production of "black gold". In Russia, many industry experts believe that, without this agreement, the domestic producers would have to cut the power in half. Now the barrel there is every chance that his price went back to the bar at $40, maybe even higher. So the cost of the "barrel" will help the domestic budget go a year without "holes" that need to be close from the reserve funds. However, for the oil industry, revenues from which fill about half of the Treasury, and the contract threatens to decline by 15%.
An emergency meeting of OPEC countries+ scheduled for April 9, which will be held in format of teleconference – the center of attention of market players all over the world. The stakes are high: either the States together fail to agree on the reduction of production volumes of "black gold", or the barrel will fall to record low levels, bringing the economies of producing countries, and so lying on the side of the pandemic, a new untold disaster. A lot depends on participation in the dialogue States that have not previously been aside from cutting production. According to preliminary data, the consent to capacity limitation gave Norway, Brazil, Colombia, Egypt, Mexico, and Canada and the United States. However, the participation of the two countries in remote negotiations are not officially confirmed.
Global GDP due to the pandemic will not receive for two years of more than $5 trillion, which is comparable with the annual volume of industrial production of Japan, writes Bloomberg with reference to the assessment of the banks on wall street. However, as the epidemic of the coronavirus will not guarantee that the world will get off this damage, but not 2-3 times more. As for Russia, then, according to the respondents "MK" experts to judge its economic prospects and losses is even more thankless.
The issue of withdrawal from the moral and financial crisis after the quarantine, the viability of online shows and reduced ticket prices discussed creative Director and Director of state theatres. Of course, online.

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