Tag Archives: Russia

Riyadh has suggested OPEC and its allies reduce output by 1 million barrels per day from January 2019 to stem the price falls.

OPEC and non-OPEC oil producers will hold a ministerial meeting Dec. 6-7.

The production decline is the first since the beginning of this year.

A decision on the production policy in 2019 can be reached at an OPEC+ ministerial meeting in Vienna on December 6-7.

Crude reserves increased 6.4 billion barrels. or 19.5 percent. to 39.2 billion barrels at year-end 2017.

The Iranian Minister of Energy has in Russia reviewed obstacles on the way of expanding economic cooperation between Iran and Russia.

Russia is the key non-OPEC partner in the production cut deal with OPEC.

50 cooperation documents have been signed between Iran and Russia in recent years.

Over the past year. Russia has consolidated its position of China’s biggest oil supplier ahead of number-two Saudi Arabia.

The output from the troika is the fastest-growing element in global oil supplies.