Reuters MOSCOW/LONDON – Russia is likely to call on fellow oil producers to change the way Moscow’s output is measured when most of the world’s biggest oil-producing nations meet next month in Vienna, Russian and OPEC sources say. For three years OPEC and non-OPEC nations have curbed oil output in order to balance the market and support prices, but Russia
Reuters Russian President Vladimir Putin said on Thursday that Saudi Arabia was taking a tough stance on the output deal between OPEC and its allies because of Saudi Aramco’s initial public offering, but that Moscow respected Riyadh’s interests. Speaking to reporters in Brazil at a summit for BRICS countries, Putin said Moscow should continue to work with OPEC and that
From AP News From a helicopter, Greenland’s brilliant white ice and dark mountains make the desolation seem to go on forever. And the few people who live here — its whole population wouldn’t fill a football stadium — are poor, with a high rate of substance abuse and suicide. One scientist called it the “end of the planet.” When U.S.
By Tyler Losier, Energy Reporter, Oil & Gas 360 Security Service of Ukraine detains Russian oil tanker, releases crew after threats from Moscow A Russian oil tanker is being detained by Ukrainian authorities in the port of Izmail near the Black Sea in what appears to be an act of retaliation for a similar incident that occurred last November. According
From Bloomberg President Vladimir Putin kept his options open on whether to extend Russia’s joint oil-production cuts with OPEC beyond June, saying he wanted to continue cooperation with the group but also highlighting the many uncertainties in the market. Russia is comfortable with current oil prices, which rose to a four-month high above $70 a barrel in London on Monday, Putin said
From Bloomberg Saudi-Russia meeting at G20 likely to determine OPEC outcome WTI crude plunged below $50 a barrel for first time in a year The choice facing Saudi Arabia at next week’s OPEC meeting is dramatic: cut oil production and enrage Donald Trump, or keep pumping and risk ultra-low prices blowing up its economy. For Mohammed bin Salman, the
Consumers suffer from price swings – Putin From CNBC Russian President Vladimir Putin suggested Moscow and Washington cooperate to tamp down volatility in oil markets. S. President Donald Trump said the United States will “compete successfully” against Russia in Europe’s natural gas market. Russian President Vladimir Putin suggested that Moscow and Washington could cooperate to soothe volatility in the oil market that
From the Associated Press/Sacramento Bee MOSCOW – Vladimir Putin launched his fourth term as president with an ambitious call to vault Russia into the top five global economies by developing its technological products and agricultural exports. Putin, who has sought to restore Russia’s military and diplomatic prominence on the world stage, focused almost entirely on domestic issues in his speech after
“We are obliged to use these difficult moments and really change the structure of the economy” – PM Medvedev Russia appears to be searching for a silver-lining while its economy struggles from low oil prices, international sanctions and a devalued currency. Prime Minister Dmitry Medvedev told a meeting of candidates to the Supreme and the General Councils of the United
Exploration is a Major Part of Our Future During his time in office, both as the Russian president and prime minister, President Vladimir Putin has held a conference every year. The conference is held with members of the press, both Russian and international, and typically involves reporters asking questions of Putin who then responds off the cuff, though it is
The Russian oil and gas industry sees prices remaining stable at ~$60-$65 per barrel During the St. Petersburg International Economic Forum, Lukoil (ticker: LKOH) CEO Vagit Alekperov said that he expects oil prices to remain relatively stable moving forward. When asked where he saw oil prices going by the end of 2015 he said, “I think it will range from
