Iraq says Saudi, Russia change tone on possible oil deal
Iraq’s Oil Minister Adel Abdel Mahdi talks to journalists as he arrives at his hotel ahead of a meeting of OPEC oil ministers in Vienna, Austria, December 2, 2015. OPEC Continue Reading
Why a Russian-Saudi Deal on Cutting Oil Output Remains Elusive
With oil trading near $30 a barrel, calls for orchestrated output cuts to quell global oversupply have intensified this week. Trouble is, none of the world’s largest producers, most notably Continue Reading
OPEC, Russia talk of oil teamwork, but Saudi talks of investment
Senior OPEC and Russian oil industry officials stepped up vague talk on Monday of possible joint action to remedy one of the worst supply gluts in decades, while Saudi Arabia Continue Reading
Ruble Retreats for Second Day as Oil Slides Below $30
Russia’s ruble sank for a second day as crude oil fell below $30 per barrel, prompting Bank of America to suggest that interest rates could rise if the price of Continue Reading
Alfa Bank Joins Russia Pessimists With Growth Cut Amid Oil Drop
Alfa Bank, one of Russia’s largest private lenders , cut its estimate for the nation’s growth in 2016 as the selloff in oil has given the world’s largest energy exporter Continue Reading
Russian Economy Shrinks Most Since 2009 as Oil Prices Sink
Russia’s economy contracted the most since 2009 last year as the price of oil, a key export, sank and sanctions over the conflict in Ukraine curbed access to international financing. Continue Reading
Russian Oil: Output Grows as Prospects Shrink
In the frosty swamplands of West Siberia, the drilling rigs of oil giant OAO Lukoil are helping raise Russia’s oil output to its highest levels since the breakup of the Continue Reading
Russia sees oil settling near $30 per barrel
Oil market volatility can’t last very long, as $30 per barrel may emerge as the low-point for the year, the head of a Russian financial services company said. Crude oil Continue Reading
Russians’ Anxiety Swells as Oil Prices Collapse
Last year was bad enough financially for Sergei and Victoria Titov, both music teachers getting along in years. Her government salary was slashed by one third, and rampant inflation put Continue Reading
Gazprom mulls LNG options for Pakistan
Russian energy company Gazprom said one of the more promising areas for cooperation with Pakistan was in the field of liquefied natural gas. Gazprom Chairman Alexei Miller hosted a delegation Continue Reading