Russia and OPEC have divergent views on a “fair price” for oil, but the two sides will continue to cooperate on managing the market, Russian President Vladimir Putin said Thursday. Continue Reading
Russia and Saudi Arabia’s energy ministers, Alexander Novak and Khalid al-Falih, will chair a trade and economy commission in Moscow on June 10, the Russian energy ministry said on Wednesday. Continue Reading
Three weeks before the OPEC meeting currently scheduled for June 25-26, it looks like the cartel is at odds even about whether this meeting should be held in that particular Continue Reading
Russia’s largest oil producer Rosneft is in talks with the government for possible compensation for losses in case OPEC and its Russia-led non-OPEC partners decide to extend the production cut Continue Reading
The amount of crude oil making its way from OPEC member countries to the North America dropped in 2018 to an average of 2.813 million barrels per day—a drop of Continue Reading
The meltdown for oil prices came to a halt, at least temporarily, after Saudi Arabia signaled that the OPEC+ production cuts would be sticking around for a little while longer. Continue Reading
Highlights OPEC oil production declined 1.3% year on year in 2018 Group’s oil exports to North America declined 12.6% US oil output surged 17.2% over same period London — OPEC Continue Reading
After oil prices booked in May their worst decline in six months amid fears that trade wars would slow down global economic and oil demand growth, the price of oil Continue Reading
OPEC’s oil production dropped to a 2015 low of 30.17 million bpd in May, as a major 200,000-bpd increase in Saudi Arabia’s production was unable to offset an even larger Continue Reading
Top oil exporter Saudi Arabia has raised production in May, a Reuters survey found, but not by enough to compensate for lower Iranian exports which collapsed after the United States Continue Reading
