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2016-08-08 19:20:00

PRICE'S TALKS: NO NEED

PRICE'S TALKS: NO NEED

 

OIL PRICES JUL - AUG 2016

 

OIL PRICES SEP 2015 - AUG 2016

 

According to BLOOMBERGRussia sees no need for renewing discussion of an oil-output freeze at current crude prices, while leaving open the possibility for the future, Energy Minister Alexander Novak told journalists in Moscow Monday.

"A basis for this has yet to develop, considering prices are still at more or less normal levels," Novak said. "If prices will fall then that necessity will most likely arise."

Russia, Saudi Arabia and other major oil exporters met in Doha in April in a bid to stabilize global markets by putting caps on output. The effort collapsed as Saudi Arabia demanded that rival Iran join the pact. At the time, Iran had ruled out any limits as it ramped up production after the lifting of international sanctions.

The Russian energy minister did not exclude the possibility that he could meet with his Saudi counterpart, Khalid Al-Falih, in Algiers next month.

Members of the Organization of Petroleum Exporting Countries intend to talk about oil markets and potential cooperation with other producing nations at the International Energy Forum in Algiers in September, but there are no specific plans to renew the freeze, according to two delegates from the group who asked not to be identified.

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Earlier: 

NEGATIVE RUSSIAN OIL 

RUSSIAN BONDS DOWN 

PRICES: PROGRESS WILL BE SLOW 

URALS: $38.68 

GLOBAL PROFITS & CASH FLOW DOWN

 

 

 

 

Tags: RUSSIA, OIL, PRICES,

Chronicle:

PRICE'S TALKS: NO NEED
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

PRICE'S TALKS: NO NEED
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

PRICE'S TALKS: NO NEED
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

PRICE'S TALKS: NO NEED
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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