Saudi Arabia said on Friday that OPEC and its allies should extend oil production cuts at around current levels as the kingdom did not want a fight for market share Continue Reading
Many oil exporting countries have confirmed they are prepared to hold a policy meeting with OPEC in Vienna over July 2-4, instead of the scheduled date later this month, Russian Continue Reading
Saudi Arabia and Russia—the world’s top crude exporters—disagree about how to respond to a free fall in oil prices, and their energy ministers are set to meet in Russia in Continue Reading
Russian President Vladimir Putin on Thursday laid the onus on Saudi Arabia to make the case for continuing a supply cut agreement set to expire at month’s end, saying he Continue Reading
Lukoil CEO Vagit Alekperov said Thursday he saw no need for the OPEC/non-OPEC producer coalition to raise crude output, given the recent fall in oil prices, and indicated he would Continue Reading
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
