Tag Archives: Alexander Novak

Russia produced 11.22 million b d in July. basically erasing its 300.000 b d pledged cut.

Russia’s ability to increase its oil extraction on its current technological basis has been effectively depleted.

Russia currently expects its oil production to stay at these high levels in the next five months.

LNG from the United States for Europe is at least 30-40% more expensive than the pipeline gas from Russia.

Russia has used stocks held in tanks at its oilfields to boost production.

The previous congress was held in Istanbul in 2016 and the next one will be in Abu Dhabi in 2019.

The loss of Iran could pull millions of barrels off the market at a time when spare capacity is at a premium.

US oil rig counts were up by two to 1.048 for the week ended July 27. according to Baker Hughes

In July. Russia planned to boost production by 200.000 barrels per day.

The two sides exchanged views on Tehran-Moscow energy cooperation roadmap.