Tagged: OPEC

Reuters: OPEC agrees to extend production reduction agreement

Reuters: OPEC agrees to extend production reduction agreement
On Monday, OPEC members agreed to extend the current production reduction agreement for three months after it expired in January.
But the decision remains to be voted on by Russia and other countries after joining the OPEC + meeting on Tuesday.
One of the main concerns of shale + is to increase OPEC’s own revenue.
Shale oil production in the United States, on the other hand, will continue to rise when oil prices reach $50 a barrel.
Russia today: Russia proposes a monetary system independent of the US dollar
At a meeting of the Shanghai Cooperation Organization (SCO) on Monday, Russian Prime Minister mishuskin said it was important to establish a monetary system independent of the US dollar and that SCO member states should cooperate to establish a system of settlement in their own currencies.
Prior to this, Kazakhstan has expressed its support for the use of member countries’ currencies for settlement, and proposed to establish a Eurasian financial advisory mechanism to gradually increase the proportion of domestic currency used for settlement among Member States.
Nikkei Asia review: Tsinghua purple light chip project stagnates
It is reported that Tsinghua purple light led the two chip projects of Chengdu’s large-scale 3D NAND flash memory factory and Chongqing’s DRAM memory chip factory have been seriously delayed.
The Chongqing factory project is scheduled to start construction this year, but it is now in a stagnant state. The construction of Chengdu factory project has been stagnant in the early stage, and there is no sign of recovery.
The two projects were announced by Zhao Weiguo, chairman of Tsinghua Ziguang two years ago, and have been generously supported by the central and local governments.
Today, the government is shifting resources to smaller semiconductor projects, leaving the group with insufficient funds to sustain both projects, and the group faces huge bond payments.

Tsinghua purple light