Russia plans to cut its oil production and export by an average of 471,000 barrels a day in the second quarter of 2024 as part of its voluntary commitments under the OPEC+ deal, Russian Deputy Prime Minister Alexander Novak said. …
Several OPEC+ countries have announced the extension of additional voluntary oil production cuts for the second quarter of 2024. Thus, Saudi Arabia extends production cuts by one million barrels a day until June, the United Arab …
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, reaffirmed their commitment to unity, full cohesion and market stability following Angola's departure announcement from the group. …
OPEC raised its forecast for the output of liquid hydrocarbons in Russia for 2022 by 26,000 barrels per day (bpd) to 10.96 mln bpd, follows from the report of the organization. Thus, the figure will increase by 160,000 bpd in 2022 …
OPEC's new secretary general Haitham Al-Ghais said that Russia's membership in OPEC+ is vital for the success of the agreement, Kuwait's Alrai newspaper reported. He said OPEC is not in competition with Russia, calling it …
Some OPEC members are considering the idea of suspending Russia in an oil production deal as Western sanctions hurt the nation's ability to produce more, the Wall Street Journal reported on Tuesday, citing OPEC delegates. …
The decision made by OPEC+ ministers earlier on Wednesday on an increase in oil output by 400,000 barrels per day in March will enable Russia to resume its production by 90% of the pre-pandemic level, Russian Deputy Prime Minister Alexander Novak …
The balance on the crude oil market will be shifted towards the supply shortage even if OPEC+ countries restore oil production in April - June, the OPEC+ Joint Ministerial Monitoring Committee (JMMC) says in its conclusion after the February 3 …
The 19th Joint Ministerial Monitoring Committee was held via videoconference on June 18 under the Chairmanship of Saudi Arabia’s Minister of Energy Prince Abdul Aziz Bin Salman and Russia's Minister of Energy Alexander Novak. …
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. …
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 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 …
Russia and Saudi Arabia are "very, very close" to a deal on oil production cuts, CEO of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev said. "I think the whole market understands that …
The meeting of the OPEC+ group of oil producers is planned for April 6, Azerbaijan’s energy ministry said. "Azerbaijan has been invited to take part in the meeting that will be dedicated to finding the ways of …
OPEC started preparations for negotiations within the OPEC+ framework, initiated by Saudi Arabia. The meeting may take place next week, a source taking part in the preparations said. "The meeting may take place next week. We …
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 …
Stock markets in Europe and the US are braced for their biggest falls since the 2008 financial crisis
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 …
OPEC’s Middle East oil flows shrink
Chief executive of Lukoil Vagit Alekperov said in that it would not be expedient to deepen global oil production cuts in the winter season, especially for Russia. He said that Russia would be able to restore oil …
