Tag Archives: Alexander Novak

Russia can bring ``a couple of hundred thousand barrels`` in the short term.

OPEC and non-OPEC countries had agreed to review current oil production as a countermeasure to the lack of Iranian oil caused by the US sanctions.

Compliance with supply cuts was 109% in July.

The Trump administration welcomes competition with Russia. but Moscow can no longer use energy as economic weapon.

Russia’s output increase comes just days before it meets in Algeria with other members of the group known as OPEC+.

The tariffs are likely to limit economic activity in both China and the United States.

Russia has already reversed most of its own production cuts as part of the deal.

The U.S.-China trade tension restricts oil from rising further.

Novak and Falih discussed bilateral energy ties and the global energy market during a meeting in Moscow.

Venezuela. which pumped 1.22 million b d in August. could see output fall to 1 million b d in 2019.