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2016, December, 2, 18:40:00OPEC - RUSSIA DEAL
Oil prices slipped on Friday as some investors opted to cash out after Brent touched 16-month a high on Thursday, with optimism over this week's OPEC-Russia accord on cutting output giving way to questions on the "sticking point" of implementing the deal.
2016, December, 2, 18:35:00RUSSIA WILL CUT
Russia promised to support a push by the Organization of Petroleum Exporting Countries to reduce a global oil oversupply after the group agreed to cut production by 1.2 million barrels a day on Wednesday. Energy Minister Alexander Novak pledged Russia would cut its own output by as much as 300,000 barrels a day, a stronger move than the previously preferred position of a freeze.
2016, December, 2, 18:30:00INDIA'S GAS INVESTMENT: $20 BLN
India is expected to see investment to the tune of $20bn in next five to seven years in development of gas fields, country’s oil minister Dharmendra Pradhan said at an event in New Delhi.
2016, December, 1, 18:45:00OPEC PRODUCTION TARGET 32.5 MBD
Accordingly, and in line with the ‘Algiers Accord’, the Conference decided to implement a new OPEC-14 production target of 32.5mb/d, in order to accelerate the ongoing drawdown of the stock overhang and bring the oil market rebalancing forward. The Agreement will be effective from January 1, 2017.
2016, December, 1, 18:45:00OIL PRICES: ABOVE $52 AGAIN
U.S. crude oil CLc1 added to overnight gains of 9 percent to reach $50.00 a barrel for the first time since October. Brent crude LCOc1, which soared $4 overnight, touched a six-week peak of $52.73 a barrel.
2016, December, 1, 18:40:00РОССИЯ ПРИВЕТСТВУЕТ ОПЕК
Россия поэтапно снизит добычу нефти в первом полугодии 2017 года в объеме до 300 тыс. баррелей в сутки в сжатые сроки, исходя из своих технических возможностей.
2016, December, 1, 18:35:00OPEC WILL CUT 1.2 MBD
OPEC will reduce output by about 1.2 million barrels a day by January, the group said, fulfilling a plan sketched out in Algiers in September to cut its production to 32.5 million barrels. The agreement exempted Nigeria and Libya, but gave Iraq its first quotas since the 1990s. West Texas Intermediate crude futures rose 0.3 percent to $49.61 a barrel at 11:44 a.m. Singapore time after gaining 9.3 percent Wednesday, the biggest one-day gain since Feb. 12.
2016, December, 1, 18:30:00INDONESIA LEAVES OPEC
OPEC had proposed Indonesia cut oil production by about 37,000 barrels per day (bpd), or about 5 percent of its output, which would dent the already slipping oil rent in Southeast Asia's largest economy. Indonesia's Energy and Mineral Resources Minister Ignasius Jonan, who attended the Vienna meeting, said the only reduction Indonesia could accept was a cut of 5,000 bpd, which had been approved in the country's 2017 budget.
2016, November, 30, 18:55:00OIL PRICES: ABOVE $49 ANEW
Brent crude, the international oil marker, rose more than $3.00, or 7.2 per cent, to $49.73 in the late morning in London.
2016, November, 30, 18:50:00IMF: EXTERNAL RISKS FOR RUSSIA
The expected fiscal consolidation and the subdued nature of the recovery are putting in place the conditions for the central bank to resume, in due course, monetary policy easing in a manner consistent with the 4 percent inflation target. However, the pace of easing should take into account the presence of external risks and the need to build credibility under the newly introduced inflation targeting regime.