Russia and OPEC

Russia cannot disclose plans on OPEC+ deal yet

Russia’s position on the future of the OPEC+ agreement cannot be disclosed yet, Russian Energy Minister Alexander Novak said. He said there was no decision yet on whether to exclude Russian gas condensate …

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OPEC+ deal to be extended until April 2020?

  The most probable and the most discussed period for renewal of OPEC+ oil production capping deal is until April of the next year, a high-ranking source in the alliance said. "Nine months, rather than six, …

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What to expect after July OPEC+ summit?

OPEC+, a group of 24 oil-producing countries, look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude …

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Novak: Russia open to new dates for OPEC+ meeting

Russian Energy Minister Alexander Novak said that Russia was open to new dates for a meeting of OPEC+ nations, including on July 12. Novak noted that he had not yet discussed a change in meeting dates with his …

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Russia earned $100 billion after OPEC+ deal

Russia has earned at least 6 trillion rubles after signing an agreement with OPEC+ countries due to oil price cuts, Russian Energy Minister Alexander Novak said. The deal increased the cost of crude oil by $10 per …

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Russia agree to cut 200,000 bpd

Russia is ready to cut oil output by 200,000 barrels per day. Russia is ready to cut oil output by 200,000 bpd if OPEC offers to cut more than 1 million bpd, Reuters reported. On December 6, OPEC ministers discussed the oil …

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Oil future decided in Vienna

The OPEC/non-OPEC Joint Ministerial Monitoring Committee is expected to outline the guidelines for the overall oil output level in 2019 at the meeting in Vienna on December 5-7.

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OPEC agrees to oil output hike - source

OPEC has agreed to raise oil production by around 1 million barrels per day, a source in the Iranian delegation said. Two OPEC sources said the group agreed that OPEC and its allies led by Russia should increase production by about 1 …

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