Russia and China will continue to do everything possible to deepen their partnership and good-neighborliness in the interest of maintaining global stability, President Vladimir Putin said Tuesday in a video address delivered ahead of his state visit to China.
In the address, the president said ties between Russia and China have reached a truly unprecedented level. Russia also hopes that the people of the two countries can enhance their interaction and mutual understanding, said Putin.
"I am confident that together we will continue to do everything possible to deepen Russia-China partnership and good-neighborliness for our two countries' dynamic development and for the well-being of our peoples, in the interests of maintaining global security and stability," he said.
Putin will pay a state visit to China from May 19 to 20 at the invitation of Chinese President Xi Jinping. This will be his 25th visit to China.
Russia, China to work together to deepen partnership and good-neighborliness: Putin
Commercial oil stocks around the world are declining "rapidly", with several weeks of supplies left due to the consequences of the conflict in the Middle East, International Energy Agency (IEA) Executive Director Fatih Birol said on Monday.
Addressing a meeting of finance ministers from the Group of Seven in Paris, Birol said that the release of strategic reserves, which was decided in March, had provided around 2.5 million barrels per day, but warned that such reserves were "not unlimited", according to French daily Le Figaro.
Referring to commercial stocks, or crude oil inventories available for sale, Birol warned that "we still have several weeks left, but we must be aware of the fact that they are decreasing rapidly".
The 32 members of the IEA on March 11 unanimously agreed to make 400 million barrels of oil from their emergency reserves available to the market in response to disruptions caused by the Middle East conflict.
Mounting supply losses from the Strait of Hormuz are drawing down global oil inventories "at a record pace" and "further price volatility appears likely" ahead of the peak summer demand period, the IEA said in its latest Oil Market Report released on May 13.
Global commercial oil stocks declining rapidly amid Mideast conflict: IEA chief
