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OPEC and Russia agreed on a formula for oil production

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OPEC has agreed with Russia on an acceptable formula of reducing production of oil for six months. This was stated by Minister of oil industry of Venezuela, Eulochio del Pino, reports TASS. According to him, the document between the countries of the cartel and the producing States, non-EU, will be …

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Putin artificially increase the price of oil

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For anybody not a secret that expensive oil is a springboard for the Russian currency. It is therefore not surprising that Russia has supported the OPEC agreement on production cuts. Many have heard that the conclusion of a historic deal was facilitated by Putin’s talks with Iran. But not only …

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Norway earns billions on “the game” Putin

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A shark the oil market has recognized that the historic agreement on the reduction of oil production managed to conclude is largely due to the Russian President. Oil, “black gold” again. The Norwegian journalist Per Anders Johansen told how Norway earns as a successful outcome of the “game” of Putin. …

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More and more countries want to cut production. What’s next?

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Oman has said it is ready after OPEC to join the agreement to reduce production volumes, as reported by the local newspaper “al-Iqtisadiya” with reference to the Minister of oil and gas of the country Mohammed bin Hamad ar-Rumhi. Thus, wishing to reduce production becomes more and more. Though not …

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An important step to afteronly

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The most important news of the week, with a very far – reaching implications in Russia began trading futures on the Russian oil Urals. This is a very important step towards the ultimate goal is to decouple the pricing of our oil from the London trade, Brent crude oil and, …

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OPEC agreed to cut oil production

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Member States of OPEC agreed to cut oil production by 1.2 million barrels per day — up to 32.5 million, according to Bloomberg. This step of the country decided to go for the first time since 2008. The Agency notes that it has received this information from one of the …

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Russia is ready to do without the freezing of oil production

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The decision of OPEC to maintain production will not bring the oil market drastically changes, analysts say Russia is interested in freezing of oil production, however, ready to abandon the idea, told “Izvestia” two sources familiar with the plans of the Ministry of energy. According to one of them, the …

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Media: Talks on limiting oil production disrupted

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Talks on limiting oil production disrupted due to the failure of Saudi Arabia to participate in the meeting. This was stated by the Bloomberg Agency with reference to sources in the organization of countries-exporters of oil (OPEC). The refusal of the representatives of Saudi Arabia argued that the countries of …

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