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Alexander Novak

OPEC, non-OPEC countries to cut crude output in 2019

Crude oil production will be cut by 1.2 million barrels per day from January 2019 for an initial period of six months.

Oil hits $62 as OPEC, allies agree to cut production

The Organisation of Petroleum Exporting Countries (OPEC) and its allies agreed yesterday to cut oil production by 1.2 million barrels per day, owing to a record global crude glut and the need to halt the price slump.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

OPEC waiting for Russia before deciding how much oil to cut

The Organisation of the Petroleum Exporting Countries has made a planned cut in oil output effectively conditional on the contribution from non-OPEC producer Russia, delegates said on Thursday as the group gathered in Vienna for a meeting aimed at supporting battered oil prices.

Alexander Novak: Russia plans to sign OPEC partnership deal

Russia is planning to sign a partnership agreement with the Organisation of the Petroleum Exporting Countries (OPEC), Energy Minister Alexander Novak said on Monday.

Russia says US sanctions ‘illegal’, will help Iran trade oil

Russian Energy Minister Alexander Novak has said Moscow will support Iran to counter US oil sanctions.

Oil prices rise towards $90 as Iran sanctions loom

Oil traded above 85 dollars a barrel on Wednesday, supported by expectations that U.S. sanctions on Iran will tighten supply and strain the ability of Saudi Arabia and other producers to pump more.
Minister of Energy and Industry of United Arab Emirates (UAE), Mr Suhail Al Mazrouei

Non-OPEC countries agree to 1m bpd oil cut

Russia and other non-members of Organisation of Petroleum Exporting Countries (OPEC) have agreed to join OPEC in raising oil production output by one million barrels per day (mb/d) from July 2018.

Saudis see oil price on rise as Trump blasts OPEC

Saudi Energy Minister Khaled al-Faleh said Friday the global market has the capacity to absorb higher oil prices, drawing a swift reaction from US President Donald Trump who accused OPEC of inflating prices.

Donald Trump tweets at OPEC over “Very High” prices, oil instantly falls

Oil fell in New York after U.S. President Donald Trump criticized OPEC and said crude prices are “artificially Very High.”

Russia plans to fully comply with OPEC-non-OPEC oil deal in April

Russia intends to fulfill its responsibilities under the deal of the member states of the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC countries on the oil output freeze in April.

Oil prices to rise as OPEC extends cuts to December 2018

Oil prices is expected to rise further as the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC talks ended with an agreement to extend the production cut deal through the end of 2018.

Russian premier Dmitri Medvedev talks up Morocco gas projects

Russia and Morocco hope to co-operate more closely in the energy sector, Russian Prime Minister Dmitri Medvedev said on Wednesday during a visit to Rabat.

Nigeria to resist cuts to its oil output

Nigeria will resist any attempts to curb its oil production when it meets with OPEC and Russia later this month.

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