Russian Energy Ministry

Novak: oil market may become balanced in June or July

The global oil market may become balanced at the end of June or in early July, Russian Energy Minister Alexander Novak said in an interview to Rossiya 24 television channel broadcast following a meeting of the OPEC+ Joint Ministerial Monitoring …

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Russia expects global oil market shortage in July

Russian Energy Minister Alexander Novak said that the global oil market could face a shortage of 3-5 million barrels per day (bpd) in July, depending on a deal to be reached by OPEC+ producers. According to the Russian minister, …

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OPEC announces readiness to radically cut oil output

The Organization of Petroleum Exporting Countries (OPEC) has developed several options for reducing oil output for the OPEC + meeting, which will be held on April 9, Bloomberg reports with reference to the organization’s materials. …

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Mishustin starts his visit to Kazakhstan

Russian Prime Minister Mikhail Mishustin has started his first foreign visit. He arrived in Kazakhstan late Thursday. The PM will take part in the session of the Eurasian Intergovernmental Council in Almaty and hold …

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Novak comments on next OPEC+ meeting date

Russian energy minister Alexander Novak said Moscow is still committed to OPEC+ meeting in March to decide on future production policies. "No one approached us officially or unofficially... We’re …

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Russia may pull out of OPEC+ in 2020

The OPEC+ may consider wrapping up their oil output reduction in 2020, Russian Energy Minister Alexander Novak told Rossiya 24 TV. "As far as the production cuts are concerned, I repeat once again, this is not …

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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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