Tag Archives: Sputnik

On Thursday, Riyadh, Moscow and other OPEC+ members and partners tentatively agreed to cut crude output by some 10 million barrels per day (bpd) over the next two months, with the deal requiring each country to cut about 23 percent of its output. Saudi state-owned oil giant Saudi Aramco has …

OPEC+ countries will discuss on Thursday the creation of a new agreement to reduce oil production with the possible participation of other major oil producing states to stabilize the situation on the market, which came under pressure from the novel coronavirus (COVID-19) pandemic. The meeting will be held in the …

Venezuelan President Nicolas Maduro said he was optimistic about the upcoming OPEC+ meeting, at which solutions could be found to stabilise the oil market. On Thursday, an OPEC+ video conference will be held on the possibility of a new cut in oil production to stabilise the market, to be followed …

Oil prices have collapsed recently both due to the lowered demand amid the rapid spread of COVID-19 and OPEC+’s failure to reach an agreement on cutting oil output in April. President Donald Trump said on Saturday that he “does not care about OPEC” and that he will put tariffs on …

Oil prices suffered their worst decline in decades in March after Russia and Saudi Arabia failed to reach a deal on output cuts amid the ongoing COVID-19 crisis. OPEC Secretary General Mohammed Barkindo is in constant contact with the OPEC+ countries; the main participants in the group support the idea …

The Trump administration made an exhaustive effort to try to wean Europe off of inexpensive, dependable Russian gas exports in recent years, pushing Brussels into a commitment to build new terminals for US liquefied natural gas (LNG) and, recently, trying to sabotage the construction of Nord Stream 2. Unfortunately, now …

The Organization of the Petroleum Exporting Countries (OPEC) has asked Russia for an additional oil production cut of 300,000 barrels per day, which would mean a total of 600,000 barrels daily, Deputy Energy Minister Pavel Sorokin told Reuters. According to Sorokin, this would be technically difficult. Last week, the OPEC+ …

Russia's oil output increase will now hinge on companies' plans.

The Trump administration recently imposed sanctions on a subsidiary of Russia’s Rosneft.

The satellite would be launched as part of a scientific mission.