After Russia agreed on Friday to cut its oil production as part of the non-OPEC group tasked with cutting 400,000 bpd of oil production, Energy Minister Alexander Novak said it Continue Reading
Budget Buster Oil prices are below levels many OPEC and allied nations need to balance their budgets. Fiscal break-even oil price in U.S. dollars, 2018 BRENT $61.50 a barrel 21:07 Continue Reading
After Russia agreed on Friday to cut its oil production as part of the non-OPEC group tasked with cutting 400,000 bpd of oil production, Energy Minister Alexander Novak said it Continue Reading
Russia may be ready to cut its oil production by 200,000 bpd as part of a deal with OPEC to reduce oil supply—a higher commitment than 150,000 bpd previously aired, Continue Reading
Russia will invest $5 billion to raise Venezuela’s oil production by 1 million b/d under a new economic agreement, Venezuelan President Nicolas Maduro said Thursday. “We have signed contracts to Continue Reading
The seizure by Russian forces of three Ukrainian vessels and their crews in the Kerch Strait at the entrance to the Sea of Azov has turned a harsh spotlight on Continue Reading
OPEC and its allies are working towards a deal to reduce oil output by at least 1.3 million barrels per day, four sources said, adding that Russia’s resistance to a Continue Reading
OPEC and Russia moved closer on Wednesday to agreeing cuts in oil production from next year despite pressure from U.S. President Donald Trump to reduce the price of crude. OPEC Continue Reading
“They have to stop doing this,” one OPEC official said, referring to private talks between Russia and Saudi Arabia. “It’s not justice. The lives of entire populations are at stake.” Continue Reading
OPEC and its allies are working towards a deal to reduce oil output by at least 1.3 million barrels per day, four sources said, adding that Russia’s resistance to a Continue Reading
