Saudi Arabia, Russia, and Algeria announced on the same day!, About Crude Oil Release | Measures | Crude Oil

Release time:Apr 14, 2024 01:44 AM

Saudi Arabia announces a one month extension of its daily additional reduction of 1 million barrels of crude oil production

On July 3rd local time, the Saudi Ministry of Energy announced that the voluntary additional daily reduction of 1 million barrels of crude oil, which began in July, will be extended for one month until the end of August, and this measure may be further extended.

Starting from May this year, Saudi Arabia voluntarily reduced its daily crude oil production by 500000 barrels, and in July, it voluntarily reduced its daily crude oil production by an additional 1 million barrels. After two production cuts, Saudi Arabia's daily crude oil production has decreased to 9 million barrels since July this year.

It is reported that Saudi Arabia's move is aimed at jointly maintaining the stability of the international crude oil market with OPEC+countries.

Russia will reduce its daily oil exports by 500000 barrels in August

Russian Deputy Prime Minister Novak announced on July 3rd local time that Russia will reduce its daily oil exports by 500000 barrels in August.

In March of this year, Russia decided to reduce production by 500000 barrels of oil per day based on the average extraction level in February. This decision was extended until June and later until the end of the year. The new decision this time is to reduce exports rather than production.

Algeria announces an additional 20000 barrels per day reduction in crude oil production in August

On July 3rd local time, the Algerian Ministry of Energy and Mines announced a further reduction of 20000 barrels per day of crude oil production from August 1st to August 31st, resulting in a daily crude oil production of 940000 barrels in Algeria.

Previously, on April 2nd this year, the Algerian Ministry of Energy and Mines announced that the country would voluntarily reduce its daily crude oil production by 48000 barrels from May to the end of 2023.


Saudi Arabia, Russia, and Algeria announced on the same day!, About Crude Oil Release | Measures | Crude Oil

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OPEC+reached an agreement in June to extend the production reduction agreement until 2024

Due to oversupply and other reasons, international crude oil prices have been on a downward trend since last year.

At the 33rd ministerial meeting in early October last year, OPEC+, composed of OPEC member countries and non OPEC oil producing countries, announced a daily reduction of 2 million barrels of monthly production to 41.856 million barrels starting from November 2022, based on the same August production. In early April of this year, OPEC+announced an additional voluntary daily production reduction of 1.66 million barrels from May to the end of this year, based on the above production reduction decisions. In June of this year, at the 35th ministerial meeting, major oil producing countries negotiated and extended the previously agreed production reduction agreement until 2024, and adjusted the total crude oil production target for 2024 to an average of 40.46 million barrels per day.

The International Energy Agency reports that global oil demand growth may slow down

On June 14th local time, the International Energy Agency released the 2023 Mid term Oil Market Report, stating that due to the global energy crisis highlighting high oil prices and supply security issues, the pace of global transformation towards clean energy technology is accelerating. In the coming years, the growth rate of global oil demand will significantly slow down.

The report predicts that driven by the development of the petrochemical and aviation industries, global oil demand will grow by 6% from 2022 to 2028, reaching 105.7 million barrels per day. However, despite cumulative growth, the annual growth rate of global oil demand is expected to slow down in the coming years, shrinking from 2.4 million barrels per day this year to 400000 barrels per day in 2028. One important reason is that with the continuous development of electric vehicles, increasing use of biofuels, and improving fuel efficiency, the use of petroleum as a transportation fuel will decrease after 2026.

The Director of the International Energy Agency, Birol, stated that with the advancement of technologies such as electric vehicles and the improvement of energy efficiency, the transition to clean energy is accelerating, and global oil demand is expected to peak before 2030.

Two women were stabbed to death and reported to have committed a crime 4 days before the follow-up visit for schizophrenia. Suspect of a bloody murder case in a Hong Kong shopping mall appeared in court today. Male | Last Friday | Murder case
Two women were stabbed to death and reported to have committed a crime 4 days before the follow-up visit for schizophrenia. Suspect of a bloody murder case in a Hong Kong shopping mall appeared in court today. Male | Last Friday | Murder case

According to Hong Kong's Wen Wei Po, a bloody knife stabbing case occurred at Hollywood Square in Diamond Hill last Friday. The police arrested a 39 year old man on suspicion of stabbing two young women, one of whom was stabbed over 30 times. The suspect appeared in the Kwun Tong Magistrates Court this morning. The police at the Kwun Tong Magistrate's Court temporarily charged the suspect with two counts of murder last Sunday. The suspect appeared in court this morning at the Kwun Tong Magistrate's Court. Acting Chief Magistrate Zheng Jihang, after listening to the opinions of both the prosecution and defense, decided to postpone the hearing for two weeks until 9:30 am on June 19th, waiting for two psychiatric expert reports to be obtained. The defense did not object. Zheng Jihang approved the application, and the defendant needs to be temporarily detained at Xiaolan Mental Hospital. When the suspect appeared in court, he wore black framed glasses, a light gray shirt, and camouflage green shorts, and was able to answer the judge's questions normally. accordingly

Secretary of the Provincial Party Committee: The focus of Henan's "summer harvest" has shifted to agricultural machinery in the northern region of Henan Province. | Support | Science | Organization | Province | Northern Henan | Summer Harvest | Rush Harvest
Secretary of the Provincial Party Committee: The focus of Henan's "summer harvest" has shifted to agricultural machinery in the northern region of Henan Province. | Support | Science | Organization | Province | Northern Henan | Summer Harvest | Rush Harvest

Currently, the highly anticipated summer harvest work in Henan has shifted its focus to the northern region of Henan. According to the Henan Daily client, on June 4th, Lou Yangsheng, Secretary of the Henan Provincial Party Committee, presided over a special video scheduling meeting on the "Three Summers" work in the province, listened to the situation report, analyzed and judged the situation, and arranged and deployed the next steps of work. Governor Wang Kai made specific arrangements. On the evening of May 31, 2023, in Xiafutou Village, Xuliang Town, Boai County, Jiaozuo, Henan Province, villagers braved light rain in the wheat fields to harvest wheat. Visual China Map Lou Yangsheng pointed out that the current summer harvest battle in the province has entered the decisive stage. Doing a good job in summer harvest in northern Henan Province is related to the summer grain yield and seed safety. We should focus on seizing opportunities and make every effort to organize the wheat harvesting work in the northern Henan region, minimize losses, and protect the interests of farmers to the greatest extent possible. Accurate forecasting is essential

Xinhua All Media+| Welcome home! What innovative technologies are protecting the return journey of Shenzhou 15? Spaceship | Shenzhou | Technology
Xinhua All Media+| Welcome home! What innovative technologies are protecting the return journey of Shenzhou 15? Spaceship | Shenzhou | Technology

On June 4th, the return capsule of the Shenzhou-15 manned spacecraft successfully landed at the Dongfeng landing site. Astronauts Fei Junlong, Deng Qingming, and Zhang Lu all safely and smoothly exited the spacecraft, and the Shenzhou-15 manned flight mission was a complete success. What innovative technologies are there to safeguard the return journey of Shenzhou 15 in this mission? On June 4th, the return capsule of the Shenzhou-15 manned spacecraft successfully landed at the Dongfeng landing site. Xinhua News Agency reporter Lian Zhen photographed that "the sky and the ground" ensure the high-precision return of spacecraft. For the Shenzhou series spacecraft, the return and re-entry GNC technology is directly related to the life safety of astronauts. Taking the success of this return mission as a symbol, China has comprehensively upgraded its GNC system since the Shenzhou-12 manned spacecraft, which features autonomous rapid rendezvous and docking, autonomous adaptive prediction and re-entry return guidance, and has completed a comprehensive update and replacement

The Chinese naval fleet has arrived! Assembly | Navy | Chinese Fleet
The Chinese naval fleet has arrived! Assembly | Navy | Chinese Fleet

At noon today, a Chinese naval fleet consisting of Zhanjiang and Xuchang ships arrived at the assembly area of the "Comodo-2023" multinational maritime joint exercise. It is understood that the assembly anchorage for this exercise is 3 nautical miles long and 1.5 nautical miles wide, capable of anchoring up to 50 ships. Naval vessels from various countries participating in the exercise will also arrive at the anchorage today to complete the assembly of the "Komodo 2023" multinational maritime joint exercise, which is held every two years by the Indonesian Navy. This year is already the fourth edition of the exercise. The exercise will be held from June 5th to 8th in the city of Jakarta, South Sulawesi Province, Indonesia, including the port and sea phases. In the coming days, participating navies from various countries will participate in ship reading style search and rescue exercises, maritime interception and damage management exercises, aerial exercises, and other course objectives exercises

New comment: Donkey like "morale" limit pulls US debt "bomb" fuse hard to dismantle US | debt | morale
New comment: Donkey like "morale" limit pulls US debt "bomb" fuse hard to dismantle US | debt | morale

On the evening of June 1st, the US Senate passed a bill on the federal government's debt ceiling and budget, and the flame of the US debt bomb was temporarily extinguished at the last moment. The two parties in the United States have staged an extreme tug of war over the US debt bomb. Some experts believe that the US debt crisis is the result of the reckless politics promoted by the US dollar hegemony, and the underlying cause of this crisis is the highly polarized political system of the US. Since the end of World War II, the US Congress has adjusted the debt ceiling more than a hundred times. The recurring debt crisis will not only have a catastrophic impact on the US economy and people's livelihoods, but also continuously erode the value of US dollar assets such as government credit and US bonds, bringing significant and far-reaching impacts to the global economic landscape. 【