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OPEC’s in a quagmire, foreshadowing disappointment for oil bulls counting on the group and its allies extending output curbs by nine months, according to Goldman Sachs Group Inc.
Oil slipped from the highest close in more than two years after U.S. drillers expanded operations while OPEC and Russia prepare to discuss longer supply curbs.
OPEC and Russia have crafted the outline of a deal to extend their oil production cuts to the end of next year, although both sides are still hammering out crucial details, according to people involved in the conversations.
Oil advanced to a fresh two-year high as OPEC and Russia were said to have crafted the outline of a deal to extend their oil production cuts to the end of next year.
Oil traders and analysts almost unanimously expect OPEC and Russia to prolong their production cuts next week. However, behind the scenes Saudi Arabia and Russia are still debating what course to follow.
A Chinese firm that’s grown from a small local trader to a global deal-making juggernaut sold its first cargo of Russian crude after buying a $9 billion stake in Rosneft.
Prosecutors have displayed two million dollars in cash, which they claim was a bribe, at the corruption trial of a former Russian economic development minister.
Russia’s Yamal LNG, set to be the world’s biggest Arctic producer of liquefied natural gas, plans to send its debut cargo to China as thanks for its support.
A Russian helicopter with eight people on board has fallen into the sea off Svalbard, an Arctic archipelago that belongs to Norway, rescue officials said.
A leading oil economist has warned that global production cuts agreed to by the Opec cartel and 11 other countries including Russia may not be enough to overcome the rise of US shale.
President Donald Trump insists his support is stronger than ever, despite a report that some Republicans are weighing a 2020 presidential run without him.
BP's chief executive does not expect the latest batch of sanctions imposed on Russia by Washington to have an adverse impact on the oil major's operations.
Moscow has ordered a reduction in the number of US diplomats in Russia and will close down an American recreation retreat in response to fresh sanctions from Washington.
Few know the content of this month’s maiden powwow between US President Trump and Russian President Vladimir Putin. Yet given Trump’s suggestion that the US is open for business in Europe regarding natural gas, it would be odd if the Russian leader hadn’t brought up the subject of his country’s standing as one of the region’s main suppliers.
Industrial manufacturing giant Siemens has been left red faced and forced to backtrack on an arrangement with Russia after an energy scandal involving Crimea.