{"id":931,"date":"2022-08-01T19:11:02","date_gmt":"2022-08-01T19:11:02","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=931"},"modified":"2022-08-01T19:11:04","modified_gmt":"2022-08-01T19:11:04","slug":"russia-membership-in-opec-vital-for-success-of-agreement","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/931\/","title":{"rendered":"Russia membership in OPEC+ vital for success of agreement"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>OPEC&#8217;s new secretary general said that Russia\u2019s membership in OPEC+ is vital for the success of the agreement.<\/p>\n\n\n\n<p>OPEC&#8217;s new secretary general said that Russia\u2019s membership in OPEC+ is vital for the success of the agreement.<\/p>\n\n\n\n<p>He said OPEC is not in competition with Russia, calling it \u201ca big, main and highly influential player in the world energy map\u201d, Alrai reported.<\/p>\n\n\n\n<p>OPEC+ is an alliance of the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia.<\/p>\n\n\n\n<p>According to Reuters, Al-Ghais, Kuwait\u2019s former OPEC governor, will head his first OPEC+ meeting on Aug. 3, in which the group will consider keeping oil output unchanged for September, despite calls from the United States for more supply.<\/p>\n\n\n\n<p>AL-Ghais told Alrai \u201cOPEC doesn\u2019t control oil prices, but it practices what is called tuning the markets in terms of supply and demand,\u201d describing the current state of the oil market as \u201cvery volatile and turbulent.\u201d<\/p>\n\n\n\n<p>He added about the recent hikes in oil prices, \u201cAs for me, I still stress that the recent rise in oil prices is not only related to the developments between Russia and Ukraine.&#8221;<\/p>\n\n\n\n<p>\u201cAll the data confirm that prices began to rise gradually and cumulatively, and before the outbreak of the Russian-Ukrainian developments, due to the prevailing perception in the markets that there is a shortage of spare production capacity, which has become confined to a few and limited countries,\u201d al-Ghais said.<\/p>\n\n\n\n<p>Replying to a question about the factors that will affect oil prices by the end of the year, al-Ghais said, \u201cIn my view, the most important factor will be the continued lack of investments in the field of drilling, exploration, and production.\u201d<\/p>\n\n\n\n<p>\u201cThis will push prices in an upward direction, but we cannot determine the level they will reach.\u201d<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2022-08-01T19:11:04+00:00\"> 1 August 2022<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"OPEC&#8217;s new secretary general said that Russia\u2019s membership in OPEC+ is vital for the success of the agreement. OPEC&#8217;s new secretary general said that Russia\u2019s membership in OPEC+ is vital for the success of the agreement. He said OPEC is not in competition with Russia, calling it \u201ca big, main and highly influential player in [&hellip;]","protected":false},"author":1,"featured_media":932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,18,1],"tags":[],"services":[],"class_list":["post-931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-headline","category-opec"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=931"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/931\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/932"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=931"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}