Russian oil companies prefer to keep their production restriction quotas until March, when the current OPEC+ cuts expire, and discuss an extension then, signaling that Russian producers don’t want deeper Continue Reading
Around 7%-8% of current Russian oil output is condensate: Novak Moscow — Russian energy minister Alexander Novak said Friday it is too early to talk about extending the OPEC+ crude Continue Reading
For yet another month, Russia is producing above its quota under the production cut deal, potentially complicating next week’s OPEC+ meeting set to discuss how to proceed with the pact. Continue Reading
Russian energy minister Alexander Novak said Thursday that Russia is preparing calculations to exclude condensate from its OPEC+ quota, but has so far yet to take a decision. We have Continue Reading
The Joint Technical Committee (JTC) at OPEC, the body that reviews oil market fundamentals before the cartel’s ministers gather to discuss cuts, will meet in Vienna on the afternoon of Continue Reading
OPEC and its Russia-led non-OPEC partners in the production cut deal may roll over in early December the current cuts into June 2020, as Russia will likely support the cartel’s Continue Reading
Russia needs to discuss with its OPEC partners the exclusion of gas condensate from its cap under the OPEC+ production cut pact, as condensate isn’t exported, while it is included Continue Reading
Russian President Vladimir Putin said Wednesday his country will continue to work with OPEC on stabilizing oil markets despite “minor disagreements.” The current OPEC+ output cut agreement is in place Continue Reading
Highlights Reiterates 2019 output forecast of 556-560 mil mt Russia committed to November output target Moscow — Russian energy minister Alexander Novak said Wednesday he wants new volumes of gas Continue Reading
OPEC+ is facing a steep challenge as it prepares to gather in Vienna next month. Global oil supply could continue to rise at a rapid pace in 2020, surpassing the Continue Reading
