Oil future decided in Vienna
The OPEC/non-OPEC Joint Ministerial Monitoring Committee is expected to outline the guidelines for the overall oil output level in 2019 at the meeting in Vienna on December 5-7.
Russia and OPEC
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OPEC+ monitoring committee to discuss Qatar’s withdrawal from oil cartel
The OPEC+ monitoring committee will discuss Qatar’s withdrawal from the oil cartel on December 5, Russia's Energy Minister Alexander Novak said. "(We will) discuss it tomorrow," TASS cited the …
Now OPEC and non-OPEC deal have two members only: Russia and Saudi Arabia
he future of OPEC is on shaky ground after Qatar abruptly announced it would sever ties with the influential oil cartel
OPEC agrees to oil output hike - source
OPEC has agreed to raise oil production by around 1 million barrels per day, a source in the Iranian delegation said. Two OPEC sources said the group agreed that OPEC and its allies led by Russia should increase production by about 1 …
Are Russia and Saudi Arabia forming super-OPEC?
Russia and Saudi Arabia intend to establish new OPEC, Bloomberg reported citing sources. The two countries are considering inviting all 24 countries to join a permanent body with its own constitution and secretariat. …
Iran rejects plan to raise oil output within OPEC+ deal
Iran has rejected a plan by Russia and Saudi Arabia to increase oil production at a meeting of the OPEC oil cartel this week in response to consumer disgruntlement with rising prices. "I don’t believe at this meeting we can …
Russia proposes oil output hike to OPEC+
Russia plans to propose increasing oil production by the OPEC+ deal members by 1.5 million barrels per day (bpd), the Russian Energy Minister Alexander Novak said. "The market is growing, (oil) demand is growing …
Will OPEC+ ease oil deal?
OPEC members are discussing a compromise agreement that would see an oil production increase of 300,000-600,000 barrels per day over the next few months, according to people briefed on the talks, Bloomberg reported. OPEC officials are …
OPEC+ ministers to meet in Jeddah
OPEC and non-OPEC oil ministers will meet in Jeddah, Saudi Arabia today to discuss their oil production cut deal. The Joint Ministerial Monitoring Committee (JMMC) will make a recommendation to OPEC about whether or not the …
Russia not to join OPEC, but...
Russia’s Energy Minister Alexander Novak said that Russia and OPEC may assume joint efforts on balancing the oil market after completion of the crude production cut deal (OPEC+).
Will Russia join OPEC?
Saudi Arabia and Russia are working on a historic long-term pact that could extend controls over world crude supplies by major exporters for many years, Reuters reported. Saudi Crown Prince Mohammed bin Salman said that …
A week to OPEC+ meeting
Oil prices unmoved by bullish EIA report
Russia and China continue to boost oil ties
Continuing warming between Moscow and Beijing gave the former the upper hand in the race for market share with Saudi Arabia.
Oil Stable After OPEC Suggests Extraordinary Measures
They are needed to restore the oil market stability
Why are they afraid of expensive oil?
Russia should think through a smooth exit from the oil production cut deal between OPEC and non-OPEC nations, which will protect the market from a shortage of raw materials, the President of Russian oil major Lukoil Vagit …
Russia earned up to trillion rubles thanks to OPEC deal
OPEC production cut deal has brought significant finances to the Russian budget thanks to increase in oil prices, Russia's Energy Minister Alexander Novak said. "This deal brought additional revenues to the …
Russia and OPEC to discuss oil in Istanbul
Secretary General of Organization of the Petroleum Exporting Countries (OPEC) Mohammed Barkindo and Russian Energy Minister Alexander Novak will hold talks at the 22nd World Petroleum Congress (WPC) in …
Russia proposes to form super-OPEC
Russia proposed to work out new principles jointly with OPEC and non-OPEC nations to continue cooperation even after the current oil output cut deal expires, Russian Energy Minister Alexander Novak said. "It is …
Novak about extending OPEC deal: we to consult with our oil firms
Russian Energy Ministry will soon start consultations with Russian oil producers about the possibility of extending an output cut deal with OPEC, the Russian Energy Minister Alexander Novak said. A final decision …
Russia does not withdraw OPEC deal
Russia does not discuss the possibility of leaving oil output reduction deal with Organization of the Petroleum Exporting Countries (OPEC) and did not express dissatisfaction with its results, a source in the cartel said. "There …