Organization of the Petroleum-Exporting Countries (OPEC)

Brent crude hits two year high

Brent crude, the global benchmark for oil trade, opened above $60 per barrel on Monday, close to its highest level since July 2015. Brent crude jumped $0.14 to $60.58 per barrel as of 14:20 (MSK). U.S. West Texas Intermediate …

 Novak: world’s demand for oil to rise

Russia's Energy Minister Alexander Novak said that world’s demand for oil will rise by up to 1% per year in the next 15–20 years.  "I think that the oil consumption will grow in the next couple …

 Russia ready to raise oil output

Russia is ready to increase its oil output by 3.5-4.0 million tonnes in 2018 if a global deal between OPEC and non-OPEC producers to reduce production is not extended, the country's Energy Minister Alexander Novak said. …

Azerbaijan ready to support OPEC deal extension

Azerbaijan will support the extension of the OPEC+ agreement, if the decision is made, Azerbaijan's Energy Minister Parviz Shahbazov said today. According to him, Baku always takes the fulfillment of undertaken …