Russia and OPEC petroleum exporting countries will continue to account for up to 48% of global oil supply until 2030 and exceed 50% by 2050, when Saudi Arabia boosts production, the International Energy Agency (IEA) said on Tuesday.
The global oil market is currently balanced, but the situation is constantly changing, Russian Deputy Prime Minister Alexander Novak said on Wednesday.
Russia will extend its voluntary cut in oil exports by 300,000 barrels per day until the end of 2023, Deputy Prime Minister Alexander Novak said on Tuesday.
Algeria has long been a medium-stakes player in the global game of oil and gas exports, but the energy crisis in Europe has created an opening for the North African nation to up the ante. Italian Prime Minister Mario Draghi flew to Algiers just a few weeks ago to ink an agreement to boost natural gas imports from Algeria by 40% through an underused pipeline that runs beneath the Mediterranean Sea.
Au nom du climat Washington «se mutilera-t-il»? sputniknews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sputniknews.com Daily Mail and Mail on Sunday newspapers.