Moscow believes the move will contribute to the stabilization of crude oil prices, which fell sharply on concerns that the Western banking crisis could weaken global energy demand. On Sunday, however, Moscow announced it will synchronize with OPEC in extending its cut until the end of the year. Russia already voluntarily cut oil output by 500,000 bpd back in March, in retaliation for an oil price cap introduced by the West, which it said would eventually result in scarce supply and trigger uncertainty in the global market. How To Download & Install Optifine in Minecraft 1.15.2 The Breakdown 434K subscribers 1.1M views 2 years ago Want to know how to download and install Optifine in Minecraft 1.15.2 If. Learn about the Optifine Minecraft Mod and find all of its download links for all. The UAE will reduce production by 144,000 bpd, Kuwait will cut 128,000 bpd, Kazakhstan 78,000 bpd, Algeria 48,000 bpd, and Oman 40,000 bpd.Ĭrude prices jumped on the news, with international benchmark Brent rising more than 5.5% to $84.30 a barrel, while US West Texas Intermediate crude futures soared 5.6% to $79.90 a barrel as of 9:00am GMT on Monday. Riyadh said it would cut its output by 500,000 barrels per day, while Baghdad announced a cut of 211,000 bpd. The oil producers, who control roughly 50% of global oil supplies, reached a decision to reduce their output starting from May until the end of 2023, in a move designed to stabilize the markets, according to a series of announcements on Sunday night. An unexpected announcement by the OPEC+ group of oil producing countries of a plan to slash their combined output by another 1.15 million barrels per day pushed the prices of crude up by as much as 6% in early Monday trading.
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