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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.

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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.

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Tags: OIL, PRODUCTION, PRICES, OPEC, RUSSIA

Chronicle:

RUSSIA COMMITTED TO OPEC+
2019, April, 17, 11:20:00

U.S. PRODUCTION: OIL + 80 TBD, GAS + 907 MCFD

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 80,000 b/d month-over-month in April from 8,380 to 8,460 thousand barrels/day , gas production to increase 907 million cubic feet/day from 78,930 to 79,837 million cubic feet/day .

RUSSIA COMMITTED TO OPEC+
2019, April, 17, 11:15:00

EUROPE'S GAS PIPELINES RULES

The rules governing the EU's internal gas market will in future also apply to pipelines to and from third countries. The Council today formally adopted an amendment to the so-called gas directive which aims at closing a legal gap in the EU's regulatory framework and boosting competition in the gas market. This is the final step in the legislative process.

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

ЯДЕРНЫЕ ТЕХНОЛОГИИ ДЛЯ ЛУЧШЕЙ ЖИЗНИ

А.Е. Лихачёв напомнил, что нынешний форум проходит под девизом «Ядерные технологии для лучшей жизни». Нет такой сферы человеческой деятельности, где так или иначе не присутствовали бы достижения атомной отрасли. «Мирный атом связан и со всеми задачами и целями устойчивого развития, обозначенными ООН. На нынешнем форуме мы обсудим новейшие технологии, которые будут лежать в основе будущего нашей планеты», - подчеркнул А.Е. Лихачёв.

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