Russia’s economy will continue facing pressure from lower crude oil prices and sanctions, though growth returns by next year, the World Bank said Wednesday. The World Bank said a recession Continue Reading
Russian Energy Minister Alexander Novak said on Monday that he may meet his Saudi Arabian counterpart before a planned oil producers’ meeting in Doha on April 17. Saudi Arabia, the Continue Reading
Economy contracted 3.8% in fourth quarter after drop of 3.7% Russia’s economy shrank less than forecast in the fourth quarter, using a flexible exchange rate to ride out the collapse Continue Reading
A dip in China’s appetite of Russia’s popular ESPO blend crude is driving the grade’s price sharply lower, nearly wiping out the premium it often commands over rival Middle Eastern Continue Reading
Russia’s oil output set a post-Soviet high in March as the success of a proposed crude production freeze between OPEC members and other major producers appeared to be in doubt. Continue Reading
Venezuela’s opposition-controlled National Assembly is questioning the legality of a $500 million deal Rosneft OJSC made with the state oil company to increase its stake in a local oil venture. Continue Reading
Russia’s oil production hit 10.9 million barrels per day (mbd) in January 2016, the highest level since the collapse of the Soviet Union. But that could mark the peak for Continue Reading
Russian state-controlled oil company OAO Rosneft reported a slight increase in full-year net profit, shielded from plunging oil prices that battered the results of western oil producers by a weakening Continue Reading
Paris hosted a delegation of Russian energy officials to review French natural gas needs and prospects for pipeline development, Gazprom said. Gazprom Chairman Alexei Miller led the delegation to meet Continue Reading
Russia’s ruble reversed losses after Federal Reserve Chair Janet Yellen urged caution on raising interest rates. The nation’s stock index fell, extending its longest stretch of losses since 2011, as Continue Reading
