Russian Energy Minister Alexander Novak said on Thursday that there are risks for global oil markets from the political crisis in Venezuela, yet there are no proposals to reverse the Continue Reading
OPEC is having some success in heading off another oil market downturn, but over the medium-term the cartel faces much more serious risks. “OPEC’s production growth outlook over the medium Continue Reading
Venezuela’s Nicolas Maduro has sought OPEC support against U.S. sanctions imposed on his country’s oil industry, citing their impact on oil prices and potential risks for other members of the Continue Reading
The Kremlin said on Tuesday there were no substantial talks currently taking place to establish an alliance between Russia and OPEC. Energy Minister Alexander Novak said in December it was Continue Reading
Rosneft’s chief executive Igor Sechin wants Russia to quit its production control deal with OPEC, Reuters reported last week, citing sources that have seen a letter Sechin wrote to President Continue Reading
Legislation targeting OPEC is suddenly gaining steam in the U.S. Congress, raising alarm bells for the cartel. On Thursday, the House Judiciary Committee passed a bill that would allow the Continue Reading
A senior administration official said on Friday that U.S. national security depends on affordable energy, and slammed cartels when asked if President Donald Trump would support a bill targeting the Continue Reading
Igor Sechin, head of Russian oil giant Rosneft and one of Vladimir Putin’s closest allies, has written to the Russian president saying Moscow’s deal with OPEC to cut oil output Continue Reading
OPEC and Russia are officially working to establish a formal alliance that would allow for the indefinite management of the oil market. The OPEC/non-OPEC coalition, often referred to as “OPEC+”, Continue Reading
OPEC’s crude oil production plummeted by nearly 1 million bpd from December to 30.86 million bpd in January, marking the lowest production for the cartel since March 2015, as Saudi Continue Reading
