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OPEC, Russia Nearing Accord on Long Term Oil Supply Coordination


OPEC and other producers including Russia are in final talks for an agreement, that may be signed in early July, to cooperate on oil supplies on a long-term basis, Japan’s Nikkei reported, citing Russian energy minister Alexander Novak.

    Novak also told the Nikkei that discussions with OPEC on moving the date of the meeting to early July from the originally-planned dates of June 25-26 were nearly finalised.

    The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers have since Jan. 1 implemented a deal to cut output by 1.2 million barrels per day to support prices.

    The alliance, known as “OPEC+”, was due to meet on June 25-26 or in early July to decide whether to extend the pact.

    A proposal to create a formal body was abandoned earlier this year after the U.S. Congress started moves to legislate against cartels in the oil industry.

But the Nikkei said the group was trying to make OPEC+ a permanent framework under an accord to be signed at the next meeting.

     The report did not say whether Russia is willing to agree to extend the agreement on output reduction.

    OPEC on Thursday cut its forecast for growth in global oil demand due to trade disputes and pointed to the risk of a further reduction, building a case for supply restraint through the rest of 2019.

Crude oil prices jumped 4% on Thursday after suspected attacks on two oil tankers in the Gulf of Oman sparked tensions between the United States and Iran and raised concerns over the safety of oil shipments through one of the world’s busiest sea lanes.

    Prior to this latest scare, some OPEC members had been worried about the recent steep slide in prices, which have tumbled to $62 a barrel from April’s 2019 peak above $75, due to concern over the U.S.-China trade dispute and a global economic slowdown.

OPEC said, in a monthly report published on Thursday, that world oil demand would rise by 1.14 million barrels per day (bpd) this year, 70,000 bpd less than previously expected.

US News

17 Comments on "OPEC, Russia Nearing Accord on Long Term Oil Supply Coordination"

  1. Sissyfuss on Sun, 16th Jun 2019 9:10 am 

    And a happy ” Successful Sperm Injection Day” to all you mother f#%kers out there. Now put a knot in it.

  2. Davy on Sun, 16th Jun 2019 10:04 am 

    “And a happy ” Successful Sperm Injection Day” to all you mother f#%kers out there. Now put a knot in it.”
    Good point siss but there are also other ways of looking at this subject. Humans are the only animal to get bent out of shape over procreation. Procreation is natural and part of nature’s way. Nature is unconcerned with procreation is bad. Nature deals with over population and under population as needed. It is a more a complex human topic concerning wisdom and the lack of. Our society promotes procreation and also whines about it. The fact that old people are living past their shelf life is as much an issue as procreation. Maybe we need more people voluntarily ending their lives in their 60’s especially those who are narcissistic pigs that contribute nothing to the planet. Probably only 10 % of those over 60 have any kind of real use in a cold abstract mathematical way. Looking at the subject of father’s day then in this light says be happy if you are a father and somebody needs you.

  3. Davy on Sun, 16th Jun 2019 11:01 am 

    BTW Sis, in case you didn’t figure it out already. I’m one of those 10% humanity needs to keep around.

  4. JuanP on Sun, 16th Jun 2019 11:24 am 

    US Govt’s Entire Russia-DNC Hacking Narrative Based On Redacted Draft Of Crowdstrike Report
    It’s been known for some time that the US Government based its conclusion that Russia hacked the Democratic National Committee (DNC) on a report by cybersecurity firm Crowdstrike, which the DNC paid over a million dollars to conduct forensic analysis on servers they refused to hand over to the FBI. CrowdStrike’s report made its way a joint FBI/DHS report on an Russia’s “Grizzly Steppe”, which concluded Russia hacked the DNC’s servers. Crowdstrike’s claim has drawn scrutiny from cybersecurity experts according to former Breitbart reporter Lee Stranahan. Now, thanks to a new court filing by longtime Trump adviser Roger Stone requesting the full Crowdstrike analysis, we find out that the US government was given a redacted version of the report marked “Draft,” as reported by the Conservative Treehouse. What makes the whole thing even more hokey is a footnote admitting that “counsel for the DNC and DCCC informed the government that they are the last version of the report produced.” So to be clear – the entire narrative that Russia hacked the DNC is based on a redacted draft of a report which Crowdstrike appears not to have even finalized. I missed the previous DOJ filing, but this seems significant. The DOJ informed the court it doesn’t have the unredacted Crowdstrike reports. — Techno Fog (@Techno_Fog) June 15, 2019
    And as the Conservative Treehouse notes: “This means the FBI and DOJ, and all of the downstream claims by the intelligence apparatus; including the December 2016 Joint Analysis Report and January 2017 Intelligence Community Assessment, all the way to the Weissmann/Mueller report and the continued claims therein; were based on the official intelligence agencies of the U.S. government and the U.S. Department of Justice taking the word of a hired contractor for the Democrat party….. despite their inability to examine the server and/or actually see an unredacted technical forensic report from the investigating contractor.” The entire apparatus of the U.S. government just took their word for it……and used the claim therein as an official position….…which led to a subsequent government claim, in court, of absolute certainty that Russia hacked the DNC. Think about that for a few minutes. -Conservative Treehouse Meanwhile, the Crowdstrike analyst who led forensics on the DNC servers is a former FBI employee who Robert Mueller promoted while head of the agency. It should also be noted that the government of Ukraine admonished Crowdstrike for a report they later retracted and amended, claiming that Russia hacked Ukrainian military. In connection with the emergence in some media reports which stated that the alleged “80% howitzer D-30 Armed Forces of Ukraine removed through scrapping Russian Ukrainian hackers software gunners,” Land Forces Command of the Armed Forces of Ukraine informs that the said information is incorrect. Ministry of Defence of Ukraine asks journalists to publish only verified information received from the competent official sources. Spreading false information leads to increased social tension in society and undermines public confidence in the Armed Forces of Ukraine. – (translated) (1.6.2017) Amazing…

  5. JuanP on Sun, 16th Jun 2019 11:48 am 

    Oops, sorry everyone. I forgot the link again.

  6. More Davy Identity Theft on Sun, 16th Jun 2019 11:50 am 

    JuanP on Sun, 16th Jun 2019 11:24 am

    JuanP on Sun, 16th Jun 2019 11:48 am

  7. Boney Joe on Sun, 16th Jun 2019 12:48 pm 

    Juan, its true that it has all been a lie and we believed it. That shows how stupid we are.

  8. Anonymouse on Sun, 16th Jun 2019 12:50 pm 

    Happy not a father day, Juan. We know your seed is bad so we are grateful you were neutered.

  9. More Davy Identity Theft on Sun, 16th Jun 2019 3:38 pm 

    Boney Joe on Sun, 16th Jun 2019 12:48 pm

    Anonymouse on Sun, 16th Jun 2019 12:50 pm

  10. Robert Inget on Mon, 17th Jun 2019 6:56 am 

    Iraq Precipitates a USD Crisis. Europe faces a Deadline.

    We forget, Iran has been at this diplomacy bidness for two thousand years.

    If Iran can force the EU to go around US sanctions
    (keep buying Iranian oil with alternative currencies), ignoring, for now, the Trump Administration’s calls for a war that will truly end all wars and everything else.

    The best we can expect from this threat is a weakened $USD.

    Pompeo thinks this is all about transiting oil.
    IMO, It’s much more.

  11. Robert Inget on Mon, 17th Jun 2019 9:08 am 


    China is the world’s largest importer and second largest consumer of crude oil. Last year, it launched a yuan-denominated crude oil futures contract on the Shanghai Stock Exchange – the so-called petroyuan – amid a growing willingness from Iran, Russia, Saudi Arabia and Venezuela to settle oil payments in yuan and other non-dollar currencies. Despite the risk of currency fluctuations and the concerns of traders, the petroyuan is a necessary step in creating a potential rival to dollar-denominated benchmark oil prices – West Texas Intermediate and Brent Crude – and reducing the dollar dominance in the commodities trade.

    Given the ongoing trade war with the US, its tariffs on Chinese goods, and Western sanctions on Russia, Iran and other Chinese trade partners, it is to China’s benefit to promote de-dollarisation and push the internationalisation of the yuan to reduce the negative effects of possible further actions from Washington.

    US trade sanctions have also encouraged alternatives to the dollar-denominated payment system SWIFT, or Society for Worldwide Interbank Financial Telecommunications. European leaders have signed an agreement to develop an alternative to SWIFT, Iran has joined China’s CIPS, or Cross-Border Interbank Payment System, and Russia is promoting its System for Transfer of Financial Messages.

    There are also international institutions holding yuan reserves that receive heavy financial backing from China, such as the Asian Infrastructure Investment Bank, BRICS fund and Russia-China Investment Bank. Meanwhile, China’s outward direct investments in its belt and road projects alone reached US$15.6 billion last year.(out-take
    from link below;

  12. JuanP on Mon, 17th Jun 2019 10:42 am 

    merica Has Enough Uranium To Power Country For 100 Years

    Profile picture for user Tyler Durden
    by Tyler Durden
    Mon, 06/17/2019 – 11:00
    Authored by Haley Zaremba via,

    There is a large and growing contingency of pundits, politicians, and constituents in the United States who believe that leaning in to nuclear power is the nation’s best bet at meeting the carbon emissions reduction goals set by the Paris Agreement. Although the Trump administration withdrew from the agreement in June of 2017, polling shows that the majority of United States citizens still want the country to honor its Obama-era commitment to the Paris Agreement to combat global climate change.

    Despite 30 years of building next to zero new nuclear reactors, the United States is already the world’s largest producer of nuclear power, generating about 30 percent of nuclear power production globally. There are currently 98 nuclear reactors in the United States alone, and another 450 across the world, but if there is any hope of meeting the clean-energy targets set by the Paris Agreement, it’s not only necessary to phase out coal entirely and significantly increase usage of renewable resources, the United States would need to double its nuclear power production levels. If the United States is to adopt nuclear as a more significant part of its energy makeup, much less double it, an important question arises: where will the uranium be coming from?
    This month, the United States’ Uranium Committee of the Energy Minerals Division, a group responsible for monitoring the actions and movements of the uranium industry and the nuclear power industry, released their 2019 Annual Report at the annual meeting of the American Association of Petroleum Geologists in San Antonio. The report assessed that the U.S. has more uranium than we would need to fuel hundreds of years of nuclear power generation, even if nuclear power was being relied on as a much more significant source of energy in the U.S. This is great news for nuclear supporters in the United States, though historically the country has not mined its own uranium but imported the radioactive metal from other countries–and there’s a reason for that.
    As Forbes reports:
    “Since the 1990s, mostly from other countries like Canada and Australia. This is a good thing, as the uranium ores in these countries are much higher grade than ours and requires a lot less mining and refining to get the same amount of energy into the fuel. And, except for Russia, most of these countries are our allies.”
    Speaking of Russia, as geopolitical tensions rise between Moscow and Washington, Russian leaders have threatened that they may soon put a stop to uranium exports to the United States as a reaction to U.S. sanctions and tariffs. What’s more, Russian nuclear power is on the rise under Putin, with seven reactors currently under construction, with an average of one large reactor coming online each year through the year 2028. Russia is also testing out a “fast breeder” reactor model that would allow their reactors to be more efficient and create less waste by consuming spent fuel.

    The Uranium Committee of the Energy Minerals Division’s newly released report also shows that there have been recent and significant discoveries outside of the United States as well.
    “There have been numerous discoveries of high-grade uranium deposits in Canada and new low-grade deposits reported to be under development in Argentina and Peru.” Committee Advisory Group member James Conca write for Forbes. He goes on to say that “the main Australian uranium mine in South Australia has resumed operations.”
    If the United States wants to keep up with the rest of the world when it comes to nuclear power, it will need to put a lot of investment into its ailing industry. The good news is that uranium in the United States is both cheap and plentiful, and the highest-grade uranium deposits in the world reside just to the north in Saskatchewan, Canada’s Athabasca Basin, luckily a close ally of the United States (for now). New deposits continue to be discovered all the time, and, in fact, a brand-new uranium deposit has been found in Alaska’s eastern Seward Peninsula. There is even a very controversial effort to begin uranium mining near the Grand Canyon.

  13. Anonymouse on Mon, 17th Jun 2019 11:22 am 

    I have been JO’ing to this lately:


  14. JuanP on Mon, 17th Jun 2019 11:37 am 

    Oops, sorry everyone. I forgot the link again.

  15. More Davy Identity Theft on Mon, 17th Jun 2019 11:40 am 

    JuanP on Mon, 17th Jun 2019 10:42 am

    Anonymouse on Mon, 17th Jun 2019 11:22 am

    JuanP on Mon, 17th Jun 2019 11:37 am

  16. Davy on Mon, 17th Jun 2019 12:43 pm 

    Juanpee, we all know you are behind this insane activity. Nonstop for a year now you lurk on this forum and spew noise and junk. It fits your asshole narcissistic personality. Since you have run out of tricks now you spew noise and blame it on me. You are a liar and a person of the lowest character destroying this forum. Get the fuck out of here you asswipe.

  17. Theedrich on Tue, 18th Jun 2019 4:35 am 

    In December of 2017, Daniel Ellsberg published a book, “The Doomsday Machine:  Confessions of a Nuclear War Planner”.  Among many other things, he revealed the actual Strangelovian nature of our military establishment.  Most enlightening is his revelation that many in the high command of our nuclear triggers do not trust, or even have contempt for, civilian oversight and control of the military.  They covertly regard the presidential leadership as naive and inept, though it would be professional suicide to admit such an attitude openly.

    Comes now 𝕿𝖍𝖊 𝕹𝖊𝖜 𝖄𝖔𝖗𝖐 𝕿𝖎𝖒𝖊𝖘 with the revelation that the Pentagon’s Cyber Command has attacked Russia’s power grid with software “implants” designed to destroy that grid the instant a mouse click is given, thereby possibly initiating global war.  Most alarmingly, the details of this secret action were kept from the President, lest he countermand the operation or leak it to the Russians.

    So now we have a general staff that is conducting critical international military operations on its own, with no civilian input, permission or hindrances of any kind.  A formula for national suicide, executed by a tiny junta of unelected officers who decide to play nuclear Russian roulette.

    We seem to be ineluctably and irreversibly trapped in a state of national dementia.

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