Tiqnea For economic consulting

  • About Us
  • Contact us
  • English
    • العربية
  • Feasibility study request
  • Register

Login To Tiqnea Company

  • Login
  • Register

Saudi Arabia and Russia continue the path of oil cuts in the G20 talks, and offer US help

  1. Home
  2. Saudi Arabia and Russia continue the path of oil cuts in the G20 talks, and offer US help

11 Apr 2020

Share post

Saudi Arabia and Russia continue the path of oil cuts in the G20 talks, and offer US help

From Vladimir Soldatkin, Alex Lawler and Rania El Gamal Saudi Arabia and Russia  MOSCOW / LONDON / DUBAI (Reuters) – Major oil-producing countries pushed for the finishing touches on a sweeping oil cut deal in the G20 talks on Friday aimed at raising prices collapsed by the Coronavirus crisis as Russia and Saudi Arabia shoulder the lion’s share, while the United States has shown Ready to help.
Riyadh, Moscow and their allies, who together make up the unofficial OPEC + group, reached an agreement to curb crude production equivalent to 10 percent of global supply in lengthy talks on Thursday and said they wanted the others to cut another five percent.

But efforts to conclude the agreement faced an obstacle when Mexico insisted that it would cut production only by a quarter of the amount demanded by OPEC +, although the Mexican President said that Washington had offered to make additional cuts on its part.

US President Donald Trump, who has threatened Saudi Arabia with oil tariffs unless it addresses the oversupply in the market, said the United States is ready to help Mexico by compensating “some shortfall,” adding that Washington expects compensation.

Saudi Arabia and Russia

Oil markets were closed on Friday at a time when the G20 energy ministers held a videoconference arranged by Saudi Arabia, but prices did not rise after Thursday’s cut talks – which will be the largest in history – as reducing global supplies by 15 percent will not distract the oil glut. Much at a time when demand is falling 30 percent.
Corona measures to stem the fuel demand for planes and cars have been depleted, putting pressure on the budgets of oil-producing countries and ravaging the US shale oil industry most affected by the price drop because of its higher costs.
“We call on all countries to harness the various tools at their disposal to help reduce the surplus,” US Energy Secretary Dan Browell told the G20 talks.

The OPEC + agreement, conditional on Mexico’s accession, includes withholding ten million barrels per day, and sources in OPEC + say that an additional five million barrels per day should come from reducing the production of the United States and others.
Norway and Canada, both outside OPEC +, have indicated that they may cut production if an agreement is implemented.
Bruillett said that US production could drop by two to three million barrels per day by the end of 2020. Although it is not an official cut, it is larger and over a shorter period of time than US officials indicated previously.
Kremlin spokesman Dimitri Peskov said a move involving others was “inevitable”, despite his admission that US law prohibits US producers from joining a bloc aimed at guiding prices.

Trump and Russian President Vladimir Putin held talks on Friday on the energy market.
(Covered by Olesya Astakhova in Moscow, Ahmed Ghaddar, Alex Lawler, Shadia Nasrallah in London, Florence Tan in Singapore, Mariana Baraga in Mexico City, Jeff Mason, and John

Feasibility studies for web applications

Feasibility studies for web applications If you want to create a new web application, it should be known that there is a need for feasibility studies before pursuing web applications or the mobile application process because they aim to define guidelines for developing applications from feasibility studies in terms of the technical side and integration issues of web services from the systems. The current, and many other things that you clarify, which will help you to succeed quickly, so we will explain to you the most important points about the feasibility studies for web applications. See also the feasibility studies for web applications from here for more details

Similar posts

Nikkei rises after gains in US technology stocks

TOKYO (Reuters) – The Nikkei benchmark index made slight gains at the close on the Tokyo Stock Exchange on Nikkei rises after gains  Wednesday, with some tech stocks surging after […]

see more

skilled: A mutation in the Corona virus makes it more contagious, but less lethal

SINGAPORE (Reuters) – A prominent infectious disease doctor said that the new Coronavirus has mutated increasingly A mutation in the Corona  common in Europe, North America, and parts of Asia […]

see more

Global health: The coronavirus outbreak is increasingly being driven by young people

The WHO Regional Director for the Western Pacific Region said on Tuesday that the spread of the Coronavirus global health: The coronavirus outbreak is increasingly being driven by young people increasingly […]

see more

Japanese bank: Dubai’s economy may contract 5.2% in 2020 and grow by 4.3% in 2021

DUBAI (Reuters) – Japan’s Mitsubishi UFG Financial Group said that Dubai’s economy is expected to contract by 5.2 Dubai’s economy percent this year due to the impact of the Coronavirus […]

see more

The rise in the price of “gold” worldwide, will it continue?

Gold rose on Monday morning in Asian trading, supported by signs of slowing economic recovery in the United States The rise in the price and Japan. Gold futures rose slightly […]

see more

Sources: China is ramping up US oil purchases before reviewing the trade deal

(Reuters) – US cargo brokers and Chinese importers said shipments of crude oil China is ramping up  from the United States to China will rise dramatically in the coming weeks, […]

see more

التعليقات:

Do you want to subscribe to the mailing list to receive the latest studies and offers?

About Al-Tiqnea

Technical Economic Consulting Company was established in 2012, it was established by a team of investment professionals to become one of the leading investment companies to provide the best management consulting services to local international companies and institutions. Since its inception, the company has continuously expanded to become one of the largest leading consulting firms in the region through its branches located in the Arab world as well as representative offices in Europe.

Quick Links

  • Home
  • Blog
  • Technical Services
  • Contact us
  • About Us

Contact us

00201200006303 info@tiqnea.com

In front of Water Way - Fifth settlement - New Cairo

All copyright are reserved for (el-tiqnea ) 2012 @