The main events by the morning: December 6

• OPEC+ extends restrictions on oil production. The OPEC+ countries decided to maintain current oil production volumes until April 2025 in order to keep Brent crude oil prices in the range of $70-77 per barrel. Production quotas have been officially extended until the end of 2026. The total production limit is 39.7 million barrels per day: OPEC countries account for 24.1 million barrels, while non—OPEC countries account for 15.6 million barrels. The quotas of Russia and Saudi Arabia remain at 9.95 million and 10.48 million barrels per day, respectively.

• Russia is discussing with China the localization of car production. The Ministry of Industry and Trade of the Russian Federation is negotiating with Chinese automakers to launch local production facilities in Russia. This was announced by the head of the department Anton Alikhanov. President Vladimir Putin has previously noted that Russia, like other major powers, strives for maximum localization of production, including the automotive industry. According to Alikhanov, cooperation with Chinese partners in this area is actively developing.

• New measures to support industry. The Ministry of Industry and Trade is developing additional measures to support industrial enterprises in the face of an increase in the key rate. Anton Alikhanov noted that many tools are already in operation, such as the cluster investment platform of the Industrial Development Fund and subsidy programs. However, due to the tightening of credit conditions, some companies require additional assistance.

• Changes in payments for Russian gas. Russian President Vladimir Putin has signed a decree changing the rules for payments for gas supplies to the EU through Gazprombank. Now the authorized bank will accept payments exclusively in rubles, and settlements through type K accounts are temporarily discontinued. The document also allows the use of counterclaims and alternative currencies through authorized intermediaries to circumvent sanctions restrictions.

• Serbia is seeking to increase gas supplies. Serbia has asked Russia to increase gas supplies under the new agreement. According to Serbian Deputy Prime Minister Alexander Vulin, the country fears difficulties with paying for gas due to US sanctions against Gazprombank. Belgrade is also discussing with Hungary a project to build an oil pipeline that will connect the two countries with the Druzhba highway.