The International Energy Agency said…

Oil-producing nations are moving closer toward ending a global glut and re-balancing the crude market, and OPEC will decide next month whether to extend its cuts in output beyond June, the group’s Secretary-General Mohammad Barkindo said, according to Bloomberg.The Organization of Petroleum Exporting Countries and other major producers are committed to reducing oil stockpiles, and all countries participating in a six-month deal to pare output are committed to restoring the market’s stability, Barkindo said at a conference in Abu Dhabi. OPEC will decide at its meeting on May 25 whether to prolong the cuts it began making in January, he said.“We are optimistic the policy measures have already placed us on the path of recovery,” Barkindo said in a speech. “Our collective action will continue to prove effective.”OPEC and several other producers including Russia agreed in December to pump less oil in an orchestrated effort to end an oversupply weighing on prices. Compliance with the cuts was more robust in March compared to the previous month, Barkindo said. Benchmark Brent crude has gained about 19 percent since the agreement, which took effect in January, and was 17 cents higher at $55.06 a barrel at 10:22 a.m. in London.OPEC’s compliance with the cuts improved to 104 percent in March from 90 percent in February, while the rate for non-OPEC producers in the deal increased to 64 percent from 38 percent over the same two months, the International Energy Agency said in an April 13 report. OPEC’s average compliance for 2017 is 99 percent, the IEA said.

The price of oil changed in the world markets

On NYMEX (New York Mercantile Exchange) cost of the US light crude oil increased $0.11 to stand at $50.55. Price of the Brent crude oil at the London ICE (Intercontinental Exchange Futures) rose $0.18 to trade at $53.11.The price of a barrel of Azeri Light crude oil decreased $0.56 to stand at $55.02 on the world markets.

According to Daily Pakistan…

At least 15 people including a woman and two children were reportedly killed, and 50 others injured when a powerful blast occurred outside an Imambargah at a market of Parachinar city in Kurram Agency, Pakistan, on Friday, according to Daily Pakistan.The blast reportedly occurred this morning in the crowded Noor market where a main Imambargah is also located.After the blast, the area has been cordoned off by the forces. It is being reported that bomb was planted in a vehicle.According to the political administration, injured were being shifted to the hospitals, while emergency has been declared in all hospitals of the city.On the other hand, helicopters of Pakistan Army have been departed to the bomb-hit city in order to rescue the injured.Prime Minister Nawaz Sharif, Interior Minister Chaudhary Nisar Ali Khan and others condemned the deadly attack in Parachinar.No one has claimed responsibility for the bombing.

According to TASS…

Russia has already cut oil production under a deal with OPEC by 200,000 barrels a day, Russian Energy Minister Alexander Novak told CNBC on Thursday, according to TASS.He said Russia is gradually reducing its oil production and plans to reduce its oil output by 300,000 barrels a day by late April. He spoke to CNBC at the Arctic forum currently underway in Russia’s Arkhangelsk.Earlier reports said as of March 25 Russia reduced oil production by 185,000 barrels per day under the agreement with OPEC. Russia undertook to slash oil production by 300,000 barrels per day starting from January 2017 compared with October 2016 or by 2.7%.OPEC decided at its November 2016 meeting in Vienna to limit production to 32.5 mln barrels per day in the first half of 2017, down 1.2 mln barrels per day from October 2016 production levels, with the possibility of extending this limit for the remainder of the year.At a meeting on December 10, eleven non-OPEC countries pledged to cut oil output by nearly 600,000 barrels per day, and Russia by 300,000 barrels. The agreement expires in June. The next OPEC’s meeting is due to be held on May 25. The sides are expected to discuss the extension of accords by another six months.

Some of the assets of the South Stream Transport…

Gazprom Chairman Alexey Miller said they opened a branch of the South Stream Transport BV in Istanbul for the realization of the TurkStream natural gas pipeline project, according to Daily Sabah. Noting that the said branch was opened to realize the TurkStream project and coordinate work carried out in Turkey, Miller said: "This is a very important decision. Thus, all conditions were provided to launch the construction of the sub-sea section of the project."Pointing out that the first micro tunnel was excavated in the section within the Russian border and that the second micro tunnel was 98.5 percent ready, Miller stressed that the project is under active construction.Saying that hydrographic research continue in Turkish waters and that environmental impact assessment work was completed in the last section of the TurkStream project, Miller said, "We will begin the construction of the sub-sea section of the line in the second half of 2017, and we even plan to complete the construction of the two lines by the end of 2019."South Stream Transport B.V. was set up for the construction of the sub-sea section of the South Stream project. But after Gazprom's decision to terminate the project, the Russian company bought the shares of Eni, EdF and Wintershall. Some of the assets of the South Stream Transport are to be used for the construction of the TurkStream.

The Armenian armed units shattered ceasefire with Azerbaijan

The Armenian armed units shattered ceasefire with Azerbaijan a total of 128 times throughout the day, Azerbaijan`s Defense Ministry said.The Armenian armed forces, stationed in Armenia`s Barekamavan and Shavarshavan villages in Noyemberyan district, Chinari and Aygedzor villages in Berd district, Aygeovit and Paravakar villages in Ijevan district , nameless hills in Krasnoselsk district subjected to fire the positions of the Azerbaijani armed forces located Farahli, Bala Jafarli and Gaymagli villages in Gazakh district, Munjuglu, Aghbulag and Kokhanabi villages in Tovuz district and nameless hills in Gadabay district.The ceasefire was also violated in Bash Garvand, Yusifjanli, Shikhlar and Merzili villages in Aghdam district, Gorgan, Horadiz and Ashagi Seyidahmadli villages in Fuzuli district, Kuropatkino village in Khojavand district as well as nameless hills in Tartar, Goranboy, Jabrayil and Khojavand districts.

“TANAP will ensure natural gas supply security of Turkey”…

The Trans-Anatolian Pipeline (TANAP) project aimed to transport Azerbaijani gas to Turkey and then to Europe, will help to cover current deficit in Turkey and ensure natural gas security of the country’ said Anar Mammadov, Director General of Petkim Holding, in his interview with Anadolu Agency.Mammadov stated that the State Oil Company of Azerbaijan (SOCAR) is now Turkey's biggest foreign investor, saying that they do not feel like outsiders to Turkey, and that Turkey is a very close and friendly country to them.Noting that SOCAR has invested in many countries around the world as an international company, but the largest volume of these investments is concentrated in Turkey, Mammadov stressed that they trust the Turkish economy.The Petkim general manager also said that in Turkey, which they regard as having great potential, they have invested a total of $18 billion. He went on to say that $11 billion of that has been completed and they plan to complete all their projects by 2020.He noted that in 2018, TANAP will be put into operation (section to Eskişehir) and first gas will be delivered to Turkey (on "Shah Deniz-2").Stating that first stage will be commissioned in 2018 and is planned to be completed in 2020, Anar Mammadov underscored that TANAP and other projects will help reduce the current account deficit, which is the most important problem in the Turkish economy.

The price of oil changed in the world markets

On NYMEX (New York Mercantile Exchange) cost of the US light crude oil decreased $0.24 to stand at $50.11. Price of the Brent crude oil at the London ICE (Intercontinental Exchange Futures) fell $0.34 to trade at $52.62.The price of a barrel of Azeri Light crude oil increased $0.84 to stand at $53.87 on the world markets.

The 9th International Mstislav Rostropovich Festival

The 9th International Mstislav Rostropovich Festival will be held in Baku on April 23.The festival will be co-organized by Azerbaijan`s Ministry of Culture and Tourism, Mstislav Rostropovich Foundation and the Heydar Aliyev Foundation.The festival will offer premières of new compositions, musical rarities, and works in different genres.It will feature performance from People`s Artist Murad Adigozalzade, as well as Azerbaijan State Symphonic Orchestra and Azerbaijan State Chapel Choir.The festival aims to promote the débuts of exceptionally gifted young musicians.

According to official website of European Commission…

Started in 1985, European Capitals of Culture have developed into one of the most ambitious cultural projects in Europe and one of the EU's most appreciated activities.According to official website of European Commission, the goal of the project is more relevant than ever: to provide Europeans with opportunities to learn more about each other's cultures, to enjoy their shared history and values and to experience the feeling of belonging to the same European community.Tibor Navracsics, European Commissioner responsible for Education, Culture, Youth and Sport, said: "In 2022, Lithuania will host its second European Capital of Culture after Vilnius in 2009. I congratulate Kaunas on its successful bid. Since their inception in 1985, European Capitals of Culture have helped to bring European citizens closer together, to encourage openness and exchange and to foster economic and social development of cities and regions.This popular EU initiative is all the more important today given the big challenges our societies are facing. I look forward to seeing Kaunas give visitors from Europe and all over the world the opportunity to discover the city and its cultural assets but also to appreciate the diversity of cultures in our continent. As many previous European Capitals of Culture have shown, the title can bring significant long-term cultural, economic and social benefits – benefits that Kaunas now stands to reap as well."