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The global deal to cut oil production should be constantly monitored and it could be adjusted over the course of the year, Russian Energy Minister Alexander Novak told an online government meeting, Reuters reported. Novak also told the …
Mexico’s 100,000 barrel per day contribution to a historic global oil output cut will only apply during May and June, Energy Minister Rocio Nahle said on Wednesday, Reuters reported. The OPEC+ group of oil-producing countries …
OPEC plans to include the declines by non-OPEC producers may not be enough to reassure traders that have tried to weigh the loss of up to 30% of global demand as economies have shut down to slow the spread of coronavirus, Financial Times …
Oil prices rose around 1% on Tuesday after the U.S. Energy Information Administration (EIA) predicted shale output in the world's biggest crude producer would fall by a record amount in April, adding to cuts from other major producers. …
The OPEC+ deal will not prompt an immediate sharp rise in oil prices, but should the international community manage to curb the COVID-19 outbreak, it is possible that prices could rise to between $40 and $45 a barrel, Russia’s Gazprom Neft …
Baku has expressed its readiness to support a historic agreement reached earlier this week that would see Organization of the Petroleum Exporting Countries (OPEC) and other non-OPEC oil-producing countries cut production in an effort to …
Goldman Sachs said that oil prices would continue to fall in the coming weeks, reasoning that a "historic yet insufficient" deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout. …
U.S. Secretary of Energy Dan Brouillette said that the energy sector of the United States will soon recover from the recent ‘price wars’ on global oil markets and consequences of the COVID-19 pandemic and will emerge …
OPEC+ oil producers reached a new agreement to collectively reduce oil production by 9.7 million barrels a day for two months, starting from 1 May. After that, production will be cut by 7.7 million barrels a day for 6 months, …
OPEC+ nations have signed an agreement on daily oil production cuts by 9.7 million barrels for a term of two months, Kazakhstan’s energy ministry said. "After the online ministerial meeting of the OPEC+ and non-OPEC+ …
The African Organization of Petroleum Producers (APPO) has decided to support the efforts of OPEC + to stabilize the oil market and reduce oil production, the APPO infroms. "In a spirit of cooperation and collective responsibility …
Russian Energy Minister Alexander Novak said on Friday that the group of global oil producers known as OPEC+ may take additional measures on oil markets if necessary, Reuters reports. He was talking to Russian state TV Rossiya-24 after …
In the course of the conversation with U.S. President Donald Trump and Saudi King Salman bin Abdulaziz Al Saud, Russian President Vladimir Putin confirmed the determination to coordinate actions …
OPEC+ had adopted a new declaration on cooperation during the online video conference to discuss the terms of a new oil output cut deal, Azerbaijan's Ministry of Energy said. The ministry said in a statement that OPEC+ had …
OPEC and its allies are moving closer toward a historic deal to take at least 10% of global crude supply off the market as they get set for the first of two critical meetings later Thursday, with key producers Saudi Arabia and Russia signalling …
Oil prices rose this morning on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand. Brent …
U.S. President Donald Trump said that U.S. oil producers have already cut production and he had many options if Saudi Arabia and Russia do not reduce their output when they and other exporters meet on Thursday. "Look, we already …
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. …
The Secretariat of the Organization of the Petroleum Exporting Countries (OPEC) invited 36 countries, including the United States, Canada, the United Kingdom, Norway, and Brazil, to the OPEC+ ministerial meeting, which will be held on …
The OPEC+ teleconference has been postponed from April 6 to April 9 for technical reasons, Kremlin Spokesman Dmitry Peskov said, adding that relevant preparations are underway. "It [OPEC+ teleconference] has been rescheduled …
