There are yet no talks about a possible new deal to replace the OPEC+ agreements, Russian presidential spokesman, Dmitry Peskov said on Thursday. “So far, no one has started talking about any specific deals or even abstract deals to replace OPEC+,” he said, answering a question from TASS about whether …
Read More »Oil Jumps as Trump Talks up Truce Hopes for Saudi-Russia Price War
Crude oil futures jumped 10% on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war. Brent crude futures rose more than 11% in early trade. By 0958, Brent was up 8.97%, or $2.22, to $26.96, …
Read More »US Ready to Help End Oil-Price War
US President Donald Trump said he was ready to help resolve an escalating oil price war between Russia and Saudi Arabia that has helped push crude benchmarks to 17-year lows. The threat of a global recession triggered by the coronavirus pandemic had already hammered prices when Riyadh said last month …
Read More »Yamal LNG Is on Its Way Back to Norway
The almost 200 meter long «Vladimir Vize» is one of 15 top ice-class carriers that over the last 2,5 years have shuttled to Sabetta to pick up liquified natural gas from the Novatek’s major Arctic plant. On that same day, tanker «Yamal Spirit» set out from Rotterdam. Also this ship …
Read More »Russia’s Government Acquires Rosneft Assets in Venezuela
A company owned by the Russian government has acquired Rosneft’s assets in Venezuela, the cabinet’s press office told TASS on Saturday. “The government of the Russian Federation has acquired assets in Venezuela from Rosneft. A company 100% owned by the Russian Federation has become the owner,” the press service said. …
Read More »Saudis Dispel Rumors, Saying No Talks with Moscow on Oil Output
Saudi Arabia held firm on its position in the price war with Russia, saying on Friday that the kingdom hasn’t had any contacts with Moscow about oil production cuts or about enlarging the OPEC+ alliance.
Read More »Saudi Arabia Denies Contact with Russia over OPEC+ Deal
Saudi Arabia has denied it has had any contact with Russia’s Energy Ministry over the possibility of a new OPEC+ deal to rebalance global oil markets. A statement from the Saudi Energy Ministry dismissed reports from Moscow that there had been discussions between Russia and the Kingdom aimed at resurrecting …
Read More »Saudi Arabia should Call a Truce in Oil Price War
Saudi Arabia’s carefully nurtured reputation for being a reliable oil producer and its aspiration to be seen as a responsible global leader will be in jeopardy if the kingdom continues to pursue its volume war. Pressing on with such a tactic in the midst of the worst global health emergency …
Read More »Russia-Saudi Oil Price War: The Worst may Be yet to Come
Saudi Arabia is pricing the crisis, but going back to the negotiations table may be difficult. The global crude supplies are entering the market at a time when global demand for crude has contracted for the first time in 10 years. By entering into a fierce oil war, Saudi Arabia …
Read More »Russia’s Move in European Gas Markets
Russia sees a silver lining in the oil price collapse—it now believes that the oil price war will help it win the war for natural gas market share in Europe. Russia’s gas giant Gazprom, the single largest supplier of natural gas to Europe, has watched with apprehension the growing volumes …
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