Alwaght | News & Analysis Website

Editor's Choice

News

Most Viewed

Day Week Month

In Focus

Ansarullah

Ansarullah

A Zaidi Shiite movement operating in Yemen. It seeks to establish a democratic government in Yemen.
Shiite

Shiite

represents the second largest denomination of Islam. Shiites believe Ali (peace be upon him) to be prophet"s successor in the Caliphate.
Resistance

Resistance

Axis of Resistances refers to countries and movements with common political goal, i.e., resisting against Zionist regime, America and other western powers. Iran, Syria, Hezbollah in Lebanon, and Hamas in Palestine are considered as the Axis of Resistance.
Persian Gulf Cooperation Council

Persian Gulf Cooperation Council

A regional political u n i o n consisting of Arab states of the Persian Gulf, except for Iraq.
Taliban

Taliban

Taliban is a Sunni fundamentalist movement in Afghanistan. It was founded by Mohammed Omar in 1994.
  Wahhabism & Extremism

Wahhabism & Extremism

Wahhabism is an extremist pseudo-Sunni movement, which labels non-Wahhabi Muslims as apostates thus paving the way for their bloodshed.
Kurds

Kurds

Kurds are an ethnic group in the Middle East, mostly inhabiting a region, which spans adjacent parts of Iran, Iraq, Syria, and Turkey. They are an Iranian people and speak the Kurdish languages, which form a subgroup of the Northwestern Iranian branch of Iranian languages.
NATO

NATO

The North Atlantic Treaty Organization is an intergovernmental military alliance based on the North Atlantic Treaty which was signed on 4 April 1949.
Islamic Awakening

Islamic Awakening

Refers to a revival of the Islam throughout the world, that began in 1979 by Iranian Revolution that established an Islamic republic.
Al-Qaeda

Al-Qaeda

A militant Sunni organization founded by Osama bin Laden at some point between 1988 and 1989
New node

New node

Map of  Latest Battlefield Developments in Syria and Iraq on
alwaght.net
News

Oil Prices Jump 12 Percent as Reports Suggests Producers Agreement on Output Cuts

Thursday 9 April 2020
Oil Prices Jump 12 Percent as Reports Suggests Producers Agreement on Output Cuts

Alwaght- Oil prices increased 12 percent on Thursday after the Organization of the Petroleum Exporting Countries (OPEC) and major producers led by Russia agreed to cut output by 20 million barrels per day.

US West Texas Intermediate (WTI) surged 12 percent on the reports to $28.36 per barrel, while international benchmark Brent crude gained 8.5 percent to $35.79 a barrel.

Oil prices have collapsed after OPEC+ countries disagreed on production cuts last month, with Russia refusing to lower output. In response, Saudi Arabia ramped up its production to a record high of more than 12 million barrels per day, after previous OPEC+ production cuts expired at the end of March.

US President Donald Trump said last week Russia and Saudi Arabia could agree to cuts of 10 million to 15 million barrels per day (bpd), or 10 to 15 percent of global supplies. 

Moscow has insisted that it would only accept cuts to its output if other players, including the United States, joined in. 

However, the US Department of Energy said the country’s output was already falling without government intervention. 

Russian President Vladimir Putin said last week that the world needs to cut production by 10 million bpd. During a televised meeting with Energy Minister Alexander Novak, Putin said the Saudis were flooding the market to force competing shale oil producers out of business, particularly in the US. 

Tags :

Oil Prices Coronavirus

Comments
Name :
Email :
* Text :
Send

Gallery

Photo

Film

Courages Individiuals like Sinvar are on the Rise

Courages Individiuals like Sinvar are on the Rise