Oil Price Russia is likely to propose at the next OPEC+ meeting that the group cut 1 million barrels per day from the group’s collective output, Reuters sources familiar with Russian thinking shared on Tuesday. The news comes just a day after comments made at Monday’s APPEC’s oil conference that suggested global oil stocks are set to rise next
Reuters LONDON/MOSCOW – An OPEC-led panel meeting to review the oil market next week will advise the wider OPEC+ group cooperating on a record supply cut, five OPEC+ sources said, meaning further talks would be needed on whether to extend the agreement further. OPEC, Russia and allies, known as OPEC+, agreed on Saturday to keep production cuts of 9.7 million
WorldOil LONDON (Bloomberg) –On the surface, it’s the old OPEC strategy of production cuts. When the cartel and its allies meet on Saturday, they are set to extend their output curbs for an extra month into July in an effort to consolidate the price recovery. But a closer look shows subtle changes that point to Saudi Arabia, Russia and their
Reuters LONDON – Oil fell after touching its highest since March at more than $40 a barrel on Wednesday, pressured by doubts that an early meeting of OPEC and its allies to extend existing output cuts will take place. Saudi Arabia and Russia have a deal to extend the cuts, but a meeting on Thursday rather than later in June
Reuters LONDON – Oil prices rose on Tuesday to near three-month highs on expectations that major producers would agree to extend output cuts that have shored up prices, during a video conference likely to be held this week. Benchmark Brent crude LCOc1 rose 2.2%, or 83 cents, to $39.15 a barrel as of 1215 GMT. U.S. West Texas Intermediate (WTI)
