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The Russian market grows on the background of statements of the head of OPEC

Mohammed Barkindo sure that the agreement will be executed by 100 percent.

21.Feb.17 10:11 PM
By Catherine Brooke


The Russian market grows on the background of statements of the head of OPEC
On Tuesday, February 21, shares of Russian companies and the price of crude oil Brent went up again. As explained by experts, it is connected with the statements of the Secretary-General of OPEC, Mohammed Barkindo.

The representative of the OPEC is confident that all countries that have signed the agreement on the reduction of oil production, will fulfill my promises in full. He also noted that all who are interested in this issue, you can always find the latest data in open sources. First results on the reduction of the oil market will be released in a few days.

By the way, tomorrow, February 22, OPEC countries and their partners will gather again in Vienna. This time the technical Committee will deal with the calculation of all indicators of production since the beginning of this year, i.e. since the inception of the Treaty on the limitation.

Also, the OPEC Secretary General noted that the complexity of the cooperation is that countries have begun to work on new principles that did not exist previously. Very hard to get used to this country-the miners outside the organization.

We will remind, the contract on restriction of production of black gold was signed between the countries-OPEC members and 11 countries outside the cartel, in late November of last year. OPEC has committed itself to limit daily production to 1.2 million barrels of oil per day. The other parties to the agreement in total should not increase the figure to 558 thousand barrels. Russia's share in these arrangements is 300 thousand barrels per day.

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