Russia and OPEC

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 Brent falls below $49 again

Brent falls below $49 again

Oil prices fell on Tuesday, with Goldman Sachs warning that August's price rally had been overdone and that a proposed oil production freeze at current near-record levels would not help rein in an oversupplied market. International …

Russian-OPEC dialogue to take place in October

Russian-OPEC dialogue to take place in October

A meeting of Russia-OPEC energy dialogue will be held in October in Vienna and the exact date will be set soon, Russia’s Energy Minister Alexander Novak said. "It is planned that the meeting will be held …

Russia is ready to 'freeze' oil once again

Russia is ready to 'freeze' oil once again

Russia is ready to continue dialogue with OPEC countries on a global oil production level freeze, Russian Energy Minister Alexander Novak said in an interview to Saudi-owned newspaper Asharq al-Awsat published on Monday. …

Novak: OPEC will not change its policy

Novak: OPEC will not change its policy

Russian Energy Minister Alexander Novak commented on the election of Mohammed Barkindo a new OPEC secretary general. The minister believes that the election of a new general secretary will not affect …

 12 countries ready to participate in OPEC meeting

12 countries ready to participate in OPEC meeting

Twelve countries have agreed to participate in the OPEC meeting in Doha, Bloomberg reports with reference to the Minister of Energy of Qatar. The head of the Ministry of Energy of the Russian Federation, Alexander Novak, in …

Kazakhstan has no plans to limit its oil production

Kazakhstan has no plans to limit its oil production

Kazakhstan has no plans to join the initiative of Russia and a number of OPEC countries to freeze oil production at the level of January 11 and does not take any administrative measures to reduce the level of oil production, the Deputy Minister …

 Novak: oil extraction freeze to reduce overproduction

Novak: oil extraction freeze to reduce overproduction

The head of the Ministry of Energy of the Russian Federation, Alexander Novak, said that if oil producers agree on an oil extraction freeze, the refining of the raw materials will drop by 1.3 million barrels per day. …

Will Iran prevent rescue of oil market?

Will Iran prevent rescue of oil market?

Tehran's representative to the Organization of the Petroleum Exporting Countries (OPEC), Mehdi Asali, said that he considers "illogical" the proposal to freeze Iran's oil production now, Reuters reports. …

Lavrov: Russia ready to participate in OPEC meeting

Lavrov: Russia ready to participate in OPEC meeting

Russia is ready to join the OPEC meeting to discuss the situation on the world oil market, Russian Foreign Minister Sergei Lavrov said. "If there is common interest in a meeting between OPEC members and …

 OPEC delegates say no meeting planned in February

OPEC delegates say no meeting planned in February

Four OPEC delegates told Bloomberg that they have no meeting planned with Russia.  The Wall Street Journal also reports, with reference to one of the cartel members, that there is no decision to convene a session. …

El-Badri plans to meet with Novak next summer

El-Badri plans to meet with Novak next summer

OPEC Secretary General, Abdallah Salem el-Badri, said before the ministerial meeting in Vienna, that he expects to meet with the Russian Energy Minister Alexander Novak in the summer 2016. "We have …

Peskov: Russia and OPEC don't coordinate their actions yet

Peskov: Russia and OPEC don't coordinate their actions yet

Kremlin spokesman Dmitry Peskov said that there is no question of coordinating actions between Russia and OPEC yet, but the sides are exchanging information on oil production. The 168th OPEC meeting is being held …

Peskov: Russia has no plans to join OPEC

Peskov: Russia has no plans to join OPEC

At the moment, Russia’s accession to OPEC is not on the agenda, Kremlin spokesman Dmitry Peskov said. "As far as we know, let's say, the Russian Federation has contacts with OPEC representatives at the …

Sechin: OPEC is losing functions as a market regulator

Sechin: OPEC is losing functions as a market regulator

The Organization of Petroleum Exporting Countries (OPEC) has invited Russia to become its member, Rosneft CEO Igor Sechin said. He noted that the talks held between Russia and OPEC are quite positive, but ...

Dvorkovich: prices can affect amount of Russian crude oil

Dvorkovich: prices can affect amount of Russian crude oil

Russia has no plans to reduce oil production, but if the oil prices remain low for a long time, there will be a certain decline in production, Russian Deputy Prime Minister Arkady Dvorkovich said. "There cannot be …

Maduro: oil may drop to 30 dollars

Maduro: oil may drop to 30 dollars

Venezuelan President Nicolas Maduro informed that, in his view, the lower limit of the price of oil is the mark of 30 dollars per barrel. He made the statement on the television program En Contacto con Maduro. In …