Russian Energy Minister
OPEC+ mulls oil output tweak amid second wave of pandemic
Saudi Energy Minister Abdelaziz bin Salman said on Tuesday that major oil countries might have to adapt their current production strategy in the face of the resurging pandemic.
Algeria backs extending OPEC supply cuts, Russia mulls options
OPEC member Algeria came out in support of deferring a planned increase in OPEC+ oil output from January, a day after Russia’s energy minister raised the possibility with the country’s oil companies.
Oil prices rise, head for weekly gain
Oil prices advanced on Friday and were heading for the second week of gains amid growing confidence that demand for fuel is starting to pick up.
Oil prices fall as Russia touts easing OPEC+ output
Oil fell on Monday after Russia said an OPEC-led pact may consider easing output cuts next year, but prices held near recent three-month highs on hopes for a trade deal between the United States and China.
Oil falls as US rights bill fuels tensions with China
Oil prices fell for a second day on Thursday after official data showed U.S. crude and gasoline stocks rose and President Donald Trump signed into law a bill backing protesters in Hong Kong, fueling tensions with China.
Oil benchmark lowered over expected crude glut – minister
The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the federal government adopted a lower oil benchmark price of $57 per barrel for the 2020 budget as against the $60 per barrel in the 2019 budget because of the expected oil glut in 2020, as well as the need to cushion against unexpected price shock.
Oil prices fall as market eyes trade war
Oil prices fell on Tuesday as the ongoing U.S.-China trade war cast a pall over markets, with soft South Korean data adding to concerns over emerging markets and a rise in the Organisation of Petroleum Exporting Countries (OPEC) output.
Oil prices drop amid demand worries, but US-Iran tensions help
Oil fell on Tuesday amid concerns over the outlook for crude demand, but prices were supported after Washington announced new sanctions on Iran amid mounting tensions in the Middle East.
Oil prices drop amid demand worries
Oil fell on Tuesday amid concerns over the outlook for crude demand, but prices were supported after Washington announced new sanctions on Iran amid mounting tensions in the Middle East, Reuters reported.
Russia wants Opec to forge cooperation
Russian Energy Minister, Alexander Novak, said on Monday that international cooperation on crude production has helped stabilize oil markets and is more important now than ever, Reuters reported.
OPEC, allies will stabilise oil market – Saudi minister
Saudi Arabia’s Energy Minister, Khalid Al-Falih, has said that member countries of the Organisation of Petroleum Exporting Countries (OPEC) and its allies led by Russia still have a lot of work to do to balance global oil markets, and are prepared to do what is necessary in this regards in the second half of 2019.
Oil edges up as market eyes tighter supply
Oil prices edged up on Tuesday buoyed by expectations of tightening global supply due to U.S. sanctions on Venezuela and production cuts led by OPEC.
Oil prices slip toward 18-month lows
Oil prices fell on Friday ahead of the New Year holiday as global crude benchmarks moved back toward their lowest levels in more than a year.
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.
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.
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.
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