British Prime Minister promises 'the biggest reimagining' of the NHS since it was founded 76 years ago
Russian Deputy Prime Minister Alexander Novak said on Monday the global oil market will be balanced in the second half of the year and thereafter, thanks to the Opec+ deal on production supply.
Opec+, which groups the Organisation of the Petroleum Exporting countries and allies such as Russia, has implemented a series of output cuts since late 2022 to support the market. The group agreed on June 2 to extend the latest cut of 2.2 million bpd until the end of September and gradually phase it out from October.
The US Energy Information Administration said last week that world oil demand will exceed output by around 750,000 barrels per day in the second half of 2024 due to lower Opec+ output.
Opec's last-week report also pointed to an oil supply deficit in the coming months and in 2025.
Responding to a question about oil market conditions in the second half of the year from autumn, when Opec+ will begin unravelling some of its production cuts, Novak said: "The market will always be balanced thanks to our actions."
British Prime Minister promises 'the biggest reimagining' of the NHS since it was founded 76 years ago
Talks have so far failed to reach a deal to end the 11-month-old war
Women take on more jobs traditionally filled by men
The Tokyo-based startup aims to follow the success of US-based Intuitive Machines, which in February made the world's first private moon landing
Mission is riskiest yet for Elon Musk's SpaceX
Wealth inequality and climate change are other issues the pope may address
Biden declares federal state of emergency for Louisiana
Some schools have told students to stay home for the rest of the week, while thousands of residents of low-lying areas have been evacuated