Non-OPEC countries led by Russia supported the OPEC decision to implement a new production target of 32.5 b/d.
will cut output by 558,000 barrels per day (b/d) in the first half of
2017, with Russia set to cut 300,000 b/d. OPEC's Secretary-General,
Muhammad Sanusi Barkindo, has described the agreement as a testament
that the group "is alive and well."
"This agreement marks the first time non-OPEC countries have joined OPEC in a concerted effort to help bring stability back to the market," added Mr. Barkindo.
Bloomberg has polled 24 analysts to find that they expect the average price per 1 bbl of Brent to equal $58 next year – an anticipated rise by 29% from the current price.
According to the agreement with Administration of Eiz Eldeen Saleem Sub-District LUKOIL implemented the first social project for this year, which was the Food Boxes Project.read more
The team of young employees of LUKOIL Uzbekistan Operating Company under the name of “Gorod Khlebniy” (“The City of Grain”) successfully performed at the “KVN Cup” humor contest held among the oil and gas producing entities of LUKOIL Group and bore away the highest award.read more