{"id":571,"date":"2018-02-16T15:47:37","date_gmt":"2018-02-16T15:47:37","guid":{"rendered":"http:\/\/kme.com.cy\/?p=571"},"modified":"2018-02-16T15:47:37","modified_gmt":"2018-02-16T15:47:37","slug":"russia-gets-41-5-billion-boost-from-opec-deal","status":"publish","type":"post","link":"https:\/\/kme.com.cy\/?p=571","title":{"rendered":"Russia gets $41.5 billion boost from OPEC deal"},"content":{"rendered":"<div class=\"article__summary summary \">Since the start of the OPEC-Russia production cut deal, Russia\u2019s oil companies and government have received the equivalent of around $41.5 billion more in proceeds, thanks to the higher oil prices.<\/div>\n<div class=\"article__text text \">\n<p>Due to the higher oil prices as a result of the pact, Russia\u2019s federal budget has received so far $29.41 billion (1.7 trillion rubles) more,\u00a0Russian Energy Minister Alexander Novak tweeted on Tuesday. The oil companies &#8211; a combined $12.11 billion (700 billion rubles) more since the beginning of 2017.<\/p>\n<p>The higher revenues are the result of the\u00a0$15-$20 increase\u00a0in oil prices, compared to the price of oil before the deal between OPEC and a dozen non-OPEC nations led by Russia was signed, the minister said.<\/p>\n<p>Russia is cutting 300,000 bpd as part of the pact with OPEC, and although there have been voices and speculation that some Russian companies are unhappy with the agreement that hampers their production expansion plans, Moscow has been keeping its end of the deal so far.<\/p>\n<p>Russia\u2019s crude oil production in January was\u00a0basically flat\u00a0compared to December 2017, after rising production at foreign firm-led projects compensated for small declines at the two major Russian oil producers, Rosneft and Lukoil.<\/p>\n<p>The oil price rally earlier this year has caused many to wonder whether Russia and\/or some OPEC members could ditch the deal because they wouldn\u2019t want oil prices too high\u2014a scenario that could incentivize US shale production too much.<\/p>\n<p>US production is beating previous growth expectations, while minister Novak said in an\u00a0interview\u00a0with Russian news agency Interfax that the goal of the OPEC-Russia deal in bringing the oil market back to balance had been two-thirds achieved.<\/p>\n<p>Asked how the cartel and allies will exit the deal, Novak said that it should be gradual and will likely take several months\u2014between two and five months\u2014to avoid a sharp increase in production that could again result in oversupply.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Since the start of the OPEC-Russia production cut deal, Russia\u2019s oil companies and government have [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-571","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Russia gets $41.5 billion boost from OPEC deal | KME Chartered Accountants<\/title>\n<meta name=\"description\" content=\"Since the start of the OPEC-Russia production cut deal, Russia\u2019s oil companies and government have received the equivalent of around $41.5 billion more in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kme.com.cy\/?p=571\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russia gets $41.5 billion boost from OPEC deal | KME Chartered Accountants\" \/>\n<meta property=\"og:description\" content=\"Since the start of the OPEC-Russia production cut deal, Russia\u2019s oil companies and government have received the equivalent of around $41.5 billion more in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kme.com.cy\/?p=571\" \/>\n<meta property=\"og:site_name\" content=\"KME Chartered Accountants\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-16T15:47:37+00:00\" \/>\n<meta name=\"author\" content=\"KME\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KME\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/kme.com.cy\\\/?p=571#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/kme.com.cy\\\/?p=571\"},\"author\":{\"name\":\"KME\",\"@id\":\"https:\\\/\\\/kme.com.cy\\\/#\\\/schema\\\/person\\\/7a8bad29c4f9a7b233e2b29d8a5d18c9\"},\"headline\":\"Russia gets $41.5 billion boost from OPEC deal\",\"datePublished\":\"2018-02-16T15:47:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/kme.com.cy\\\/?p=571\"},\"wordCount\":321,\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/kme.com.cy\\\/?p=571\",\"url\":\"https:\\\/\\\/kme.com.cy\\\/?p=571\",\"name\":\"Russia gets $41.5 billion boost from OPEC deal | KME Chartered Accountants\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/kme.com.cy\\\/#website\"},\"datePublished\":\"2018-02-16T15:47:37+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/kme.com.cy\\\/#\\\/schema\\\/person\\\/7a8bad29c4f9a7b233e2b29d8a5d18c9\"},\"description\":\"Since the start of the OPEC-Russia production cut deal, Russia\u2019s oil companies and government have received the equivalent of around $41.5 billion more in\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/kme.com.cy\\\/?p=571#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/kme.com.cy\\\/?p=571\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/kme.com.cy\\\/?p=571#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/kme.com.cy\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Russia gets $41.5 billion boost from OPEC deal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/kme.com.cy\\\/#website\",\"url\":\"https:\\\/\\\/kme.com.cy\\\/\",\"name\":\"KME Chartered Accountants\",\"description\":\"Just another WordPress site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/kme.com.cy\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/kme.com.cy\\\/#\\\/schema\\\/person\\\/7a8bad29c4f9a7b233e2b29d8a5d18c9\",\"name\":\"KME\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Russia gets $41.5 billion boost from OPEC deal | KME Chartered Accountants","description":"Since the start of the OPEC-Russia production cut deal, Russia\u2019s oil companies and government have received the equivalent of around $41.5 billion more in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/kme.com.cy\/?p=571","og_locale":"en_US","og_type":"article","og_title":"Russia gets $41.5 billion boost from OPEC deal | KME Chartered Accountants","og_description":"Since the start of the OPEC-Russia production cut deal, Russia\u2019s oil companies and government have received the equivalent of around $41.5 billion more in","og_url":"https:\/\/kme.com.cy\/?p=571","og_site_name":"KME Chartered Accountants","article_published_time":"2018-02-16T15:47:37+00:00","author":"KME","twitter_card":"summary_large_image","twitter_misc":{"Written by":"KME","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/kme.com.cy\/?p=571#article","isPartOf":{"@id":"https:\/\/kme.com.cy\/?p=571"},"author":{"name":"KME","@id":"https:\/\/kme.com.cy\/#\/schema\/person\/7a8bad29c4f9a7b233e2b29d8a5d18c9"},"headline":"Russia gets $41.5 billion boost from OPEC deal","datePublished":"2018-02-16T15:47:37+00:00","mainEntityOfPage":{"@id":"https:\/\/kme.com.cy\/?p=571"},"wordCount":321,"articleSection":["News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/kme.com.cy\/?p=571","url":"https:\/\/kme.com.cy\/?p=571","name":"Russia gets $41.5 billion boost from OPEC deal | KME Chartered Accountants","isPartOf":{"@id":"https:\/\/kme.com.cy\/#website"},"datePublished":"2018-02-16T15:47:37+00:00","author":{"@id":"https:\/\/kme.com.cy\/#\/schema\/person\/7a8bad29c4f9a7b233e2b29d8a5d18c9"},"description":"Since the start of the OPEC-Russia production cut deal, Russia\u2019s oil companies and government have received the equivalent of around $41.5 billion more in","breadcrumb":{"@id":"https:\/\/kme.com.cy\/?p=571#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/kme.com.cy\/?p=571"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/kme.com.cy\/?p=571#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/kme.com.cy\/"},{"@type":"ListItem","position":2,"name":"Russia gets $41.5 billion boost from OPEC deal"}]},{"@type":"WebSite","@id":"https:\/\/kme.com.cy\/#website","url":"https:\/\/kme.com.cy\/","name":"KME Chartered Accountants","description":"Just another WordPress site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/kme.com.cy\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/kme.com.cy\/#\/schema\/person\/7a8bad29c4f9a7b233e2b29d8a5d18c9","name":"KME"}]}},"_links":{"self":[{"href":"https:\/\/kme.com.cy\/index.php?rest_route=\/wp\/v2\/posts\/571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kme.com.cy\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kme.com.cy\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kme.com.cy\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kme.com.cy\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=571"}],"version-history":[{"count":1,"href":"https:\/\/kme.com.cy\/index.php?rest_route=\/wp\/v2\/posts\/571\/revisions"}],"predecessor-version":[{"id":572,"href":"https:\/\/kme.com.cy\/index.php?rest_route=\/wp\/v2\/posts\/571\/revisions\/572"}],"wp:attachment":[{"href":"https:\/\/kme.com.cy\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kme.com.cy\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kme.com.cy\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}