Organization of the Petroleum-Exporting Countries (OPEC)

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Mishustin: Russia did not initiate OPEC+ deal exit

Russia proposed to extend the OPEC+ agreement for a year, it was other countries that initiated leaving the deal, Russian Prime Minister Mikhail Mishustin said opening a government meeting. "We did not initiate the withdrawal from …

Dollar exchange rate exceeds 72 rubles on Moscow Exchange

The dollar exchange rate gained 6.4% since its previous closure on the Moscow Exchange as Tuesday trading opened to 72.99 rubles, exceeding the 72 rubles mark for the first time since March 2016, according to the trading data as of 10:00 am …

World faces new oil crisis 

Global share markets plunged on Monday as panicked investors fled to the safety of bonds and the yen to hedge the economic trauma of the coronavirus, while oil plunged more than 30% after Saudi Arabia opened the taps in a price war with …

Brent oil slips below $50

Oil slid nearly 1% today as worries about global oil demand and economic growth slowdown caused by the coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices. …

Oil gains on smaller-than-expected rise in crude stocks

Oil prices rose more than 1% this morning on a smaller-than-expected rise in crude oil inventories in the United States. Brent crude rose by 1.6%, to $51.96 per barrel by 05:36 GMT, while U.S. West Texas Intermediate (WTI) was up …