A backstop could be placed on the recent oil price freefall if traders are convinced OPEC proposals to cut production are "for real", according to a leading petroleum economist.
As ministers from OPEC and its allies arrive in Vienna for crucial talks, all have made clear they agree on the need for a cut in oil production. But none have explained how they’ll turn that desire into a reality.
Qatar’s “surprise” decision to withdraw from OPEC raises questions about the loyalty of the cartel’s remaining members, analysts said.
Oil headed for its biggest monthly decline since 2008 as Russia reiterated it’s comfortable with current prices, just a week before it meets with OPEC in Vienna to discuss possible production curbs.
The choice facing Saudi Arabia at next week’s OPEC meeting is dramatic: cut oil production and enrage Donald Trump, or keep pumping and risk ultra-low prices blowing up its economy.
The steepest drop in oil prices in more than three years put investors in the US in a selling mood, extending a losing streak for the S&P 500 index to a fourth day.
Russia is looking at how to develop a market for hydrogen in Europe, a move that would help maintain demand for one of its primary exports as governments everywhere work to cut pollution.
Russia is set to suffer the biggest revenue losses from rules mandating cleaner marine fuels from 2020, because the world’s top exporter of the sulfurous residual oil that powers ships doesn’t look prepared for the change.
President Donald Trump’s attempt to wield U.S. economic strength as a weapon against foreign adversaries is being tested as the Treasury Department struggles to contain the fallout from its sanctions against the world’s second-largest aluminum producer.
A senior lecturer at Aberdeen University has argued $100 oil “cannot be ruled out” as Brent’s price surge continues.
Russia’s oil and gas companies are living through the best of times, simultaneously enjoying record production and the highest prices ever in the local currency.
Premier Oil’s head of cybersecurity has expressed concern that any action against Russia could lead to retaliation against North Sea operators.
Rosneft PJSC posted record cash flow in the second quarter as Russian oil companies hit a sweet spot of rising crude prices and a weakening ruble.
A Russian helicopter carrying oil workers has crashed shortly after take-off in Siberia, killing all 18 people on board.
Russia, one of the world’s top three crude producers, is preparing the most radical shakeup of its oil-tax system since 1999.
U.S. President Donald Trump eased his tone about a Russian natural gas pipeline to Germany after a one-on-one meeting with President Vladimir Putin, shifting from the harsh criticism he’d levied in Europe last week.
Despite Opec announcing a 1million barrel daily increase in production yesterday, the oil cartel did not say which countries will account for that.
Ukraine and Russia have clashed again, with Naftogaz serving Gazprom with an order to freeze assets in England and Wales.
Come for the football, stay for the oil diplomacy.
ussia plans to propose that OPEC and its allies be allowed to return production to October 2016 levels, rolling back most but not all of their output cuts within three months, according to a person familiar with Russian thinking.
Oil extended declines as Russia was said to increase output before it meets with OPEC, adding to signs that a global coalition of producers is unwinding a pact to restrain supply.
This month’s packed geopolitical calendar has another key date -- a meeting between Vladimir Putin, the Russian president, and Mohammed bin Salman, the powerful Saudi crown prince.
As Donald Trump’s trade policy risks worsening economic conflict with the European Union, Russia’s Vladimir Putin is strengthening ties with the region.
Oil headed for its longest run of losses since February as investors weighed Saudi Arabia and Russia’s proposal to boost output to ease concerns over supply shortages.
Oil headed for its longest run of losses in almost four months as Saudi Arabia and Russia said they are discussing reviving output to ease consumer anxiety after prices jumped to levels last seen in 2014.