Alexander Novak

Russia says Kazakhstan committed to oil output deal

The energy ministers of Russia, Saudi Arabia and Kazakhstan did not discuss any adjustments to output levels Kazakhstan agreed to as part of a global oil output deal, Russian Energy Minister Alexander Novak was quoted as saying …

 Russia proposes to form super-OPEC

Russia proposed to work out new principles jointly with OPEC and non-OPEC nations to continue cooperation even after the current oil output cut deal expires, Russian Energy Minister Alexander Novak said. "It is …

 Russian-Iranian oil deal finalized

The oil-for-food deal between  Russia and Iran is done, Iran’s petroleum minister Bijan Namdar Zanganeh said, adding that Iran expects supplies from Russia. "The deal is finalized and being carried out …

Novak announces expected level of oil production cuts

In May and June, Russia plans to maintain a level of the oil production cuts at 300 000 barrels per day relatively to the October levels, the head of the Ministry of Energy of the Russian Federation, Alexander Novak said. "We …

Russia continues oil output cuts

Russia believes joint efforts of OPEC and non-OPEC counties aimed at rebalancing the global oil market have been very effective, the Russian Energy Minister Alexander Novak said. Novak backed extending oil output curbs …

OPEC deal does not save oil - oil prices hit bottom

The cost of the July futures of Brent crude oil on London's ICE trading decreased by 2.8% to $46.63 per barrel, breaking the minimum of November 29, 2016. For the first time since November 30, 2016 the oil price declined below the …