Parvin Faghfouri Azar

OPEC+ Capable to Respond to Low Oil Price Situation

Countries participating in the OPEC+ oil production limiting agreement have all the capabilities to respond if necessary to the situation with the low oil prices, Russian Energy Minister Alexander Novak told reporters. “OPEC+ countries are keeping a close eye on the situation and have all the capabilities to respond if …

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Russia has Reserves to Mitigate Situation on Oil Market

The Russian government will use the available resources to mitigate the negative effects of falling world oil prices on the Russian economy, Russian Presidential Spokesperson Dmitry Peskov told reporters on Tuesday. “The main thing here is that our government, our leadership has all the necessary reserves to dampen the negative …

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Coronavirus Harms the Oil Market more than OPEC Disputes

The coronavirus pandemic is harming the oil market way more than the price dispute between OPEC and its allies OPEC+, RBN Energy chief executive Rusty Braziel told CNBC on Monday. RBN Energy is a Houston-based privately held energy commodities analytics company that plays a role between physical markets and financial …

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America Describes the Oil Collapse as Short Term

US President Donald Trump described the historic collapse in oil prices as short-term and caused by “financial pressure,” adding that his administration would consider stopping oil shipments from Saudi Arabia. Trump said at a daily press conference that his administration also plans to increase the level of crude oil stockpiles …

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