tag Russia oil

Russia-OPEC Deal Extension Hastens Decline of Oil Heartlands

EghtesadOnline: Russia’s deal with OPEC has bolstered state coffers by putting a floor under crude prices, but it’s also had one unintended consequence: depressing output in the nation’s West Siberian oil heartlands.
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Publish Date:01/June/2017 | 10:34

Russia Can Wait for $70 Oil Before Re-Entering Arctic Waters

EghtesadOnline: Russia can wait for a sustained recovery in oil prices before drilling again in Arctic waters, relying for now on less costly regions even as rival producer Norway accelerates development of its northerly fields.
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Publish Date:29/March/2017 | 13:13

Russia Needs Data on Oil Supply, Markets to Decide on More Cuts

EghtesadOnline: Russia isn’t ready to support a possible extension of oil-supply cuts into the second half of the year, even as more crude producers acknowledge they will probably need to do so to achieve their goals of balancing the market and firming up prices.
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Publish Date:27/March/2017 | 24:59

Russia, Saudis Move at a Different Pace as Oil Cuts Scrutinized

EghtesadOnline: Russia and Saudi Arabia head to this weekend’s OPEC committee meeting as the tortoise and hare of a global deal to cut oil supply, with Moscow sticking to a slow and steady pace despite Riyadh’s cajoling.
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Publish Date:25/March/2017 | 06:45

OPEC, Russia Meet for First Check on Oil-Cuts Progress

EghtesadOnline: Representatives of OPEC and several other major oil producers are arriving in Vienna for their first meeting to monitor compliance with an agreement to cut output.
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Publish Date:21/January/2017 | 14:46

Oil Surges as Saudis Eye Deeper Cuts While Non-OPEC Joins Deal

EghtesadOnline: Oil jumped to the highest since July 2015 after Saudi Arabia signaled it’s ready to cut output more than earlier agreed and non-OPEC countries including Russia pledged to pump less next year.
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Publish Date:12/December/2016 | 13:48

OPEC, Russia see smooth road to global deal on output cut

EghtesadOnline: Russia and Saudi Arabia said they expect OPEC and non-OPEC producers to reach an agreement on Saturday to curtail oil output and prop up prices in the first such joint move since 2001.
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Publish Date:10/December/2016 | 13:27

Oil prices fall as production creeps up ahead of announced 2017 output cut

EghtesadOnline: Oil prices fell by one percent on Monday as a higher U.S. rig count unsettled markets amid nagging concern that output cuts, planned as part of concerted action between producer club OPEC and Russia, might not be as big as initially anticipated.
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Publish Date:05/December/2016 | 10:13

Saudis Temper Call for Cuts and Russia Digs In

EghtesadOnline: OPEC surprised the market in September with a preliminary agreement to reduce supply to 32.5 million to 33 million barrels a day, breaking a two-year policy to pump at full throttle. The news pushed prices above $50 a barrel in New York for the first time since June, but optimism faded as subsequent meetings failed to decide cuts for individual members.
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Publish Date:28/November/2016 | 09:53

Russia Has Made $6 Billion From Talking to OPEC

EghtesadOnline: Russia’s decision earlier this year to engage in talks with OPEC about limiting oil output has added more than 400 billion rubles ($6 billion) to the nation’s budget, according to two officials familiar with government calculations.
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Publish Date:17/November/2016 | 18:03

Russia Oil Capable of Significant Output Growth, Sechin Says

EghtesadOnline: Russia’s largest oil company said the nation is capable of a substantial increase in production, less than two weeks after President Vladimir Putin pledged his support for international efforts to limit output.
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Publish Date:23/October/2016 | 09:41

No sign of oil freeze at home as Russia meets OPEC

EghtesadOnline: As Russian energy minister Alexander Novak flies to Algeria this week for talks with OPEC on output cuts, developments at home indicate non-OPEC Russia is not preparing for any coordinated production action.
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Publish Date:27/September/2016 | 04:46