Russian Oil

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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China shies away from Russian oil?

China’s state oil company Sinochem Corp is rejecting any crude cargo "from or related to" Russia’s state oil major Rosneft before U.S. sanctions on a Rosneft unit take effect in May, two sources with direct knowledge of the …

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Russian oil giants prepare for a production surge

Russian oil firms plan to raise their oil production from April and they are comfortable with the current oil prices and even lower, oil executives said after meeting this week with Energy Minister Alexander Novak – a meeting which …

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U.S. dependence on Russian oil  becomes apparent

According to the Energy Information Administration, Russia has become a second oil supplier to the United States after Canada. The thing is that the U.S. has lost heavy oil from Venezuela due to its own sanctions.And it's Russian …

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Russia supplies record amount of oil to U.S.

According to the Energy Information Administration's January-November 2019 report, Russia increased its oil supplies to the United States to record levels last year, despite difficult political relations and economic sanctions. …

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Russia and Belarus stop oil talks?

Russia and Belarus will apparently not step up negotiations on the conditions for pumping Russian oil through the country, Kommersant writes citing sources familiar with the …

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Russia leaves Belarus without oil

Russia has cut oil supplies to Belarus, the press service of the Belneftekhim State Concern informs. It is reported that capacity utilization has been reduced to the minimum permitted level. "Oil supplies from Russia have stopped, …

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Russia sets new oil production record

Russia's 2019 oil output was seen at a record-high 560.2 million tonnes (11.25 million barrels per day), which is 0.8% higher than in 2018, the Central Dispatching Department of Fuel Energy Complex reported. Russia’s …

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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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