Organization of the Petroleum-Exporting Countries (OPEC)

Novak predicts oil prices

The average price for oil in 2018 may reach $ 65-75 per barrel, the Minister of Energy of the Russian Federation, Alexander Novak said. "I think the average prices can be at the level of $ 65-75, in this range," he said to the …

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Oil steadies boosted

It is supported by concerns that U.S. sanctions on Iran are likely to restrict crude exports from the country

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"Oil prices under influence of geopolitics"

Russia's Energy Ministry is not able to predict oil prices, the country's acting Energy Minister Alexander Novak said. Novak said that global oil prices are currently under the influence of geopolitics but …

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Novak pledges 100% compliance with OPEC+ deal

Russian Energy Ministry is committed to reaching 100% compliance with an international pact led by the Organization of the Petroleum Exporting Countries (OPEC) to reduce oil output in May, the ministry's head Alexander …

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Oil settles near $70 as traders wait for Iran decision

Oil prices hit a new high for the year as domestic production continues about 10 million barrels per day (bbl/d) and traders continue to wait for the Trump administration’s decision about whether to exit the Iran nuclear deal. …

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OPEC+ Monitoring Committee holds meeting in Jeddah

The 8th meeting of the Joint Ministerial Monitoring Committee (JMMC) has started in Jeddah, Saudi Arabia, where OPEC and non-OPEC oil ministers will discuss the oil production cut deal. OPEC and its allies achieved 149 percent of …

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OPEC+ ministers to meet in Jeddah

OPEC and non-OPEC oil ministers will meet in Jeddah, Saudi Arabia today to discuss their oil production cut deal.  The Joint Ministerial Monitoring Committee (JMMC) will make a recommendation to OPEC about whether or not the …

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