RUS | ENG
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2019-04-12 11:45:00

RUSSIA COMMITTED TO OPEC+

RUSSIA COMMITTED TO OPEC+

REUTERS - United Arab Emirates' energy minister said on Wednesday that Russia was committed to its oil supply cut agreement with OPEC and would not raise its output unless in coordination with the exporting group.

UAE's Suhail bin Mohammed al-Mazroui also said that compliance with the cuts by both Russia and OPEC's second largest producer Iraq has increased in March, adding that he expected the oil market to achieve balance by the end of 2019.

"Russia will not increase its output unless in coordination with the rest of OPEC and OPEC+ countries," Mazroui said.

"I believe in the wisdom of Russia, and I believe that Russia has benefited from this agreement... I don't see any reason for Russia not to continue with us."

Mazroui's comments came a day after Russian President Vladimir Putin said that Russia and OPEC should discuss the future of their oil output-cutting deal later this year, adding that current oil prices suited Moscow.

UAE's Suhail bin Mohammed al-Mazroui also said that compliance with the cuts by both Russia and OPEC's second largest producer Iraq has increased in March, adding that he expected the oil market to achieve balance by the end of 2019.

"Russia will not increase its output unless in coordination with the rest of OPEC and OPEC+ countries," Mazroui said.

"I believe in the wisdom of Russia, and I believe that Russia has benefited from this agreement... I don't see any reason for Russia not to continue with us."

Mazroui's comments came a day after Russian President Vladimir Putin said that Russia and OPEC should discuss the future of their oil output-cutting deal later this year, adding that current oil prices suited Moscow.

But Putin, the ultimate decision-maker in Russia, seemingly softened that stance, saying it was too early to judge whether the deal should be extended.

Speaking at a conference in Abu Dhabi, Mazroui also said the UAE can raise its crude oil production up to 3.5 million bpd if needed.

The UAE currently produces around 3 million bpd under the OPEC+ reduction agreement.

-----

Log in to read the publication.

An authorized user gets access to four FREE publications per month.

You can also buy a full access to all publications of the site since January 2014.


Earlier:

RUSSIA COMMITTED TO OPEC+
2019, April, 10, 11:35:00

OIL PRICES 2019-20: $65-$62

Brent crude oil spot prices averaged $66 per barrel (b) in March, up $2/b from February 2019. Brent prices for the first quarter of 2019 averaged $63/b, which is $4/b lower than the same period in 2018. Despite lower crude oil prices than last year, Brent prices in March were $9/b higher than in December 2018, marking the largest December-to-March price increase since December 2011 to March 2012.

RUSSIA COMMITTED TO OPEC+
2019, April, 10, 11:25:00

OIL MARKET HEALTH

The kingdom will pump about 9.8 million barrels a day in March and April and export less than 7 million barrels daily in both months, Al-Falih said in March. Saudi Arabia has a production target of 10.3 million barrels a day.

RUSSIA COMMITTED TO OPEC+
2019, April, 10, 11:20:00

GLOBAL OIL STOCKS 2.88 BBL

According to OPEC's latest monthly oil market report, global oil inventories stood at 2.88 billion barrels in January, about 19.1 million barrels above the five-year average that OPEC is targeting with its current output policy.

RUSSIA COMMITTED TO OPEC+
2019, April, 3, 11:25:00

РОССИЯ СНИЗИЛА ДОБЫЧУ

"К началу апреля Россия, как и планировалось, вышла на оговоренный уровень сокращения: по итогам марта добыча относительно октября 2018 года снизилась на 130 тбс с учетом СРП и на 153 тбс без учета СРП, относительно декабря 2018 года - на 180 тбс с учетом СРП и 230 тбс без учета СРП”,

RUSSIA COMMITTED TO OPEC+
2019, April, 3, 11:10:00

ЦЕНА URALS: $ 63,17

МИНФИН РОССИИ - Средняя цена нефти марки Urals по итогам января – марта 2019 года составила $ 63,17 за баррель. В 2018 году средняя цена на Urals в январе – марте составила $ 65,22 за баррель. Средняя цена на нефть марки Urals в марте 2019 года сложилась в размере $ 65,98 за баррель, в феврале 2018 года - $ 63,68 за баррель.

RUSSIA COMMITTED TO OPEC+
2019, March, 18, 13:25:00

СПЛОЧЕННОСТЬ, РЕШИМОСТЬ, СТАБИЛЬНОСТЬ

«Уверен, что благодаря нашей сплоченности и решимости мы сможем добиться успеха в деле поддержания долгосрочной стабильности на рынке в интересах экономических агентов на всём протяжении нефтяной производственной цепи»,

RUSSIA COMMITTED TO OPEC+
2019, March, 18, 13:20:00

OPEC+ WILL CUT

Saudi Arabia’s energy minister said on Monday that he was confident that OPEC and its non-OPEC partners will reach full conformity with cuts, and even exceed it, in weeks to come.

All Publications »
Tags: OIL, PRODUCTION, PRICES, OPEC, RUSSIA

Chronicle:

RUSSIA COMMITTED TO OPEC+
2019, April, 17, 11:10:00

RUSSIA'S ARCTIC ENERGY

Russian energy major Gazprom Neft expects the Arctic to account for more than half its oil and gas production by 2020,

RUSSIA COMMITTED TO OPEC+
2019, April, 17, 11:05:00

NUCLEAR FOR BETTER LIFE

Alexey Likhachev reminded the audience that the Forum motto is “Nuclear for better life”. Each sphere of human activity is affected by the achievements of nuclear industry. “Peaceful atom is associated with all aims and goals of UN sustainable development program. This Forum will become a space for discussing newest technologies that will lay the basis for the future of our planet”, Mr Likhachev emphasized.

RUSSIA COMMITTED TO OPEC+
2019, April, 17, 11:00:00

RUSSIA, DUBAI INVESTMENT

The investment incentives provided by Dubai government and the business opportunities up for grabs on the horizon were the crux of a meeting officials of the Dubai Land Department, DLD, had with a Russian delegation who participated in the recently concluded Annual Investment Meeting 2019.

RUSSIA COMMITTED TO OPEC+
2019, April, 17, 10:55:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

U.S. FRB - Industrial production edged down 0.1 percent in March after edging up 0.1 percent in February; for the first quarter as a whole, the index slipped 0.3 percent at an annual rate.

All Publications »