Following its 14th Meeting, which took place on 19 May 2019, in Jeddah, the Kingdom of Saudi Arabia, the Joint Ministerial Monitoring Committee (JMMC) has reaffirmed its commitment to achieving a balanced market and working towards oil market stability on a sustainable basis with solid fundamentals.

"We want to bring inventories down to a more normal levels," Falih said. "We need to stay the course and do that in the weeks and months to come."

Russia sees a range of options that would allow OPEC+ to continue output cooperation until year-end, from easing the limits to ending the extreme throttling-back that has seen some countries exceed original cutback targets.

OPEC+ would take action to offset losses of Iranian supply if market fundamentals justified it. However, no policy changes will be made until the next full OPEC+ meeting in Vienna, in June.

Gazprom's sales of Russian gas dropped 10% in the first quarter, analysis of quarterly results showed, as sales from storage dipped compared with 2018.

Russia’s Deputy Prime Minister Dmitry Kozak said on Thursday Russian oil pipeline monopoly Transneft would provide compensation to all parties that could prove real damages from contaminated oil.

Russian oil production has fallen to 11.16 million barrels per day (bpd) on May 1-12 from an average of 11.23 million bpd in April

Rosatom expects to double revenue from its overseas business, from USD6.6 billion last year to USD15 billion by 2024,

Russian-built Bushehr 1 - the first nuclear power unit in the Middle East - was connected to the national grid on 3 September 2011. Bushehr units 2 and 3 are to be completed in 2024 and 2026, respectively.

UkrTransNafta said checks on oil coming from Russia via Belarus indicated no contamination and that the crude complied with its normal quality standards.