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The deal was announced after Novak held bilateral meetings with several counterparts.
Read More »Prices Surge as OPEC Reaches Agreement
Saudi Arabia Hopes Oil Cut Likely to Boost Market Stability
OPEC and its allies agreed to reduce oil production by 1.2 million barrels per day (bpd) for the first six months of 2019.
Read More »It would Take Months for Russia to Implement Oil Production Cuts
Energy Minister Alexander Novak said it would take Russia ``months`` to get down to its requested level.
Read More »Libya. Iran. Venezuela Secure OPEC Production Cut Exemptions
Libya has been given a pass due to its chronic production outages.
Read More »OPEC Countries Agree to Cut Production
The measure. which was spearheaded by Russia. will come into effect on January 1.
Read More »OPEC Deal could Push Oil to $80 Per Barrel
Oil prices jumped just over four percent as news of the deal broke.
Read More »Putin. Novak Discussed Meeting with OPEC
OPEC resumes discussions in Vienna on Friday before heading into a meeting with non-OPEC oil producers led by Russia later in the day.
Read More »Russia`s Novak to Meet Saudi. Iran Ministers
Alexander Novak will hold separate bilateral meetings with the oil ministers of Saudi Arabia and Iran.
Read More »Pradhan Hopes OPEC will Remember Consumers when Cutting Output
OPEC tentatively agreed to an oil output cut on Thursday.
Read More »Iraq might be the Next OPEC Member to Exit
Last month. Iraq’s oil exports dropped to their lowest level in seven months due to bad weather at its southern ports.
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