Russia and OPEC

OPEC+ countries expect deficit on oil market

OPEC+ countries expect deficit on oil market

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 …

Goldman Sachs on OPEC+ deal: historic yet insufficient

Goldman Sachs on OPEC+ deal: historic yet insufficient

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. …

OPEC announces readiness to radically cut oil output

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. …

OPEC+ teleconference postponed

OPEC+ teleconference postponed

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 …

OPEC+ meeting to be held on April 6

OPEC+ meeting to be held on April 6

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+ talks to be held next week?

OPEC+ talks to be held next week?

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 …

Mishustin: Russia did not initiate OPEC+ deal exit

Mishustin: Russia did not initiate OPEC+ deal exit

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 …

Panic hits global markets

Panic hits global markets

Stock markets in Europe and the US are braced for their biggest falls since the 2008 financial crisis

Russia may pull out of OPEC+ in 2020

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 …

Vagit Alekperov: wrong to deepen oil output cuts in winter

Vagit Alekperov: wrong to deepen oil output cuts in winter

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 …

Russia cannot disclose plans on OPEC+ deal yet

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 …

Novak: OPEC+ ministers to discuss oil market in Moscow

Novak: OPEC+ ministers to discuss oil market in Moscow

Ministers of OPEC+ nations will discuss the issue of demand-supply on the oil market at the Russian Energy Week, Russia’s Energy Minister Alexander Novak told reporters on the sidelines of the Forum today. …