Russia House

editorial

2018-01-19
RUSSIAN FEDERATION SITREP 18 JANUARY 2018

BY PATRICK ARMSTRONG
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2018-01-19
Democrats Are Repudiating FDR's Precedent of Détente With Russia
By criminalizing alleged "contacts with the Kremlin"-and by demonizing Russia itself-today's Democrats are becoming the party of the new and more perilous Cold War.

By Stephen F. Cohen
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2018-01-19

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2018-01-17
Why Are the Media Ignoring Crucial Parts of the Simpson Testimony?
Fusion GPSТs Glenn Simpson painted a disturbing portrait of hedge-fund manager William Browder.

By James Carden
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2018-01-17
Why Senator Cardin Is a Fitting Opponent for Chelsea Manning

By Norman Solomon
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2018-01-17
Putin may win presidential election in first round - poll

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2018-01-16
Democrats search for Russians Ч any Russians Ч for collusion story

BY JONATHAN TURLEY
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2018-01-16
The FBI Hand Behind Russia-gate
In the Watergate era, liberals warned about U.S. intelligence agencies manipulating U.S. politics, but now Trump-hatred has blinded many of them to this danger becoming real, as ex-CIA analyst Ray McGovern notes.

By Ray McGovern
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2018-01-16
Lavrov reviews Russia's 2017 foreign policy in annual press Q&A
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2018-01-15
Celebrating Russian Christmas in Brussels. High Politics and High Society Meet in the Grand Dining Room

by Gilbert Doctorow
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Russia House

2017-03-15

Russia's economic development minister comments on decline of oil prices

Decline of oil prices is due to several factors, including production growth in the United States and possible changes in the further actions of the Organization of the Petroleum Exporting Countries (OPEC), Russia's Economic Development Minister Maxim Oreshkin told reporters.

"The reasons for decline of oil prices include several factors - quite aggressive production growth in the US, and rumors associated with a possible change of OPEC tactics. This rumor, of course, affects expectations," he said.

According to Oreshkin, the level of oil prices in the updated macro forecast for 2017 will depend on the first quarter's figures.

Oil prices began to decline on March 8 almost immediately after the publication of the data on oil reserves by the US Department of Energy. Thus, commercial oil reserves in the US increased by 8.22 mln barrels from February 24 to March 3, amounting to 528.4 mln barrels with the forecast of growth of 1.97 mln barrels of oil. On March 8-10, price of Brent futures contract with May delivery dropped by almost $5.

On November 30, OPEC countries agreed to cut oil production to 32.5 mln barrels per day, which means those countries agreed to reduce their daily average output by 1.164 mln barrels starting January 1, 2017. Together with 11 countries outside of the organization, reduction of oil production will total 1.7-1.8 mln barrels per day.

"TASS"