{"id":1443,"date":"2017-10-28T21:22:33","date_gmt":"2017-10-28T21:22:33","guid":{"rendered":"https:\/\/madaresharghi.com\/barkindo-saudi-russia-statements-clear-fog-over-supplies\/"},"modified":"2017-10-28T21:22:33","modified_gmt":"2017-10-28T21:22:33","slug":"barkindo-saudi-russia-statements-clear-fog-over-supplies","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/barkindo-saudi-russia-statements-clear-fog-over-supplies\/","title":{"rendered":"Barkindo: Saudi, Russia Statements Clear Fog Over Supplies"},"content":{"rendered":"<p><a href=\"http:\/\/madaresharghi..com\">madaresharghi<\/a><br \/>\n<\/p>\n<p> \tThe fog has been cleared ahead of OPEC\u2019s next policy meeting by Saudi Arabia and Russia declaring their support for extending a global deal to cut oil supplies for another nine months, OPEC\u2019s secretary-general told Reuters.<br \/> \tThe Organization of Petroleum Exporting Countries, plus Russia and nine other producers, have cut output by about 1.8 million barrels per day to get rid of a supply glut. The pact runs until March 2018 and they are considering extending it.<br \/> \tSaudi Arabia\u2019s Crown Prince Mohammad bin Salman said this week he was in favor of extending the term of the agreement for nine months, following on from similar remarks by Russian President Vladimir Putin on Oct 4.<br \/> \t\u201cOPEC welcomes the clear guidance from the crown prince of Saudi Arabia on the need to achieve stable oil markets and sustain it beyond the first quarter of 2018,\u201d OPEC\u2019s Mohammed Barkindo told Reuters on the sidelines of a conference.<br \/> \t\u201cTogether with the statement expressed by President Putin, this clears the fog on the way to Vienna on Nov. 30. It is always good to have this high-level feedback and guidance,\u201d Barkindo added. Reuters reported on Oct. 18, citing OPEC sources, that producers were leaning toward extending the deal for nine months, though the decision could be postponed until early next year depending on the market.<br \/> \tDiscussions are continuing in the runup to the Nov. 30 meeting, which oil ministers from OPEC and the participating non-OPEC countries will attend.<br \/> \tThe deal has supported the oil price, which on Friday reached $59.91 a barrel, the highest level since July 2015, but a backlog of stored oil has yet to be run down and prices are still at half the level of mid-2014.<br \/> \tThe supply pact is aimed at reducing oil stocks in OECD industrialized countries to their five-year average, and the latest figures suggest producers are just over halfway there.<br \/> \tStock levels in September stood at about 160 million barrels above that average, according to OPEC data, down from January\u2019s 340 million barrels above the five-year average.<\/p>\n<p> \t\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>madaresharghi The fog has been cleared ahead of OPEC\u2019s next policy meeting by Saudi Arabia and Russia declaring their support for extending a global deal to cut oil supplies for another nine months, OPEC\u2019s secretary-general told Reuters. The Organization of Petroleum Exporting Countries, plus Russia and nine other producers, have cut output by about 1.8 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[296,118,28,31,159,639,178,56,213,84,95,82,68,22,23,27],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Barkindo: Saudi, Russia Statements Clear Fog Over Supplies - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/barkindo-saudi-russia-statements-clear-fog-over-supplies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Barkindo: Saudi, Russia Statements Clear Fog Over Supplies - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi The fog has been cleared ahead of OPEC\u2019s next policy meeting by Saudi Arabia and Russia declaring their support for extending a global deal to cut oil supplies for another nine months, OPEC\u2019s secretary-general told Reuters. The Organization of Petroleum Exporting Countries, plus Russia and nine other producers, have cut output by about 1.8 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/madaresharghi.ir\/en\/barkindo-saudi-russia-statements-clear-fog-over-supplies\/\" \/>\n<meta property=\"og:site_name\" content=\"madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-28T21:22:33+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"2 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\",\"url\":\"https:\/\/madaresharghi.ir\/en\/\",\"name\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"description\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/madaresharghi.ir\/en\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/barkindo-saudi-russia-statements-clear-fog-over-supplies\/#webpage\",\"url\":\"https:\/\/madaresharghi.ir\/en\/barkindo-saudi-russia-statements-clear-fog-over-supplies\/\",\"name\":\"Barkindo: Saudi, Russia Statements Clear Fog Over Supplies - madaresharghi | An Analytical Look at Middle Eastern Developments\",\"isPartOf\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\"},\"datePublished\":\"2017-10-28T21:22:33+00:00\",\"dateModified\":\"2017-10-28T21:22:33+00:00\",\"author\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/madaresharghi.ir\/en\/barkindo-saudi-russia-statements-clear-fog-over-supplies\/\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\",\"name\":\"administrator\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/901309319175b0d219e688b01909d220?s=96&d=mm&r=g\",\"caption\":\"administrator\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/1443"}],"collection":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/comments?post=1443"}],"version-history":[{"count":0,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/1443\/revisions"}],"wp:attachment":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/media?parent=1443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/categories?post=1443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/tags?post=1443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}