Archiv: OPEC plus


04.02.2019 - 10:58 [ Oilprice.com ]

Crude Realities of Venezuela’s Future

(1.2.2019) USA being the largest buyers of Venezuelan heavy crude tightening all screws around Maduro. Madura seems adamant and expecting some help from Russia or Iran to bail him out of the situation, but that seems unlikely under the current circumstances. PDVSA being the special purpose vehicle for Maduro seems running out of fuel very soon and will not be able to support Maduro very long. China is withholding business ties and ongoing Refinery project JVs with PDVSA in the situations . Under this circumstances , all roads for Maduro are coming to an end.

04.02.2019 - 10:53 [ New York Times ]

Oil Prices Hit 2019 Highs as Sanctions Against Venezuela, OPEC Cuts Bite

(4.2.2019) Russian Energy Minister Alexander Novak has said the country’s overall cuts from the October baseline would total 50,000 bpd in January. Russia has pledged to reduce oil output by 230,000 bpd from October.

04.02.2019 - 10:41 [ Oilprice.com ]

Russia: No OPEC+ Emergency Meeting Planned Over Venezuela’s Chaos

(24.1.2019) Asked today whether the political crisis in Venezuela could lead to higher oil prices, Russia’s Energy Minister Novak told news agency TASS that the oil market is very complex and it is difficult to forecast how it would react to the developments in Venezuela.

04.02.2019 - 10:23 [ Oilprice.com ]

Oil Soars After OPEC And Partners Reach Deal

(7.12.2018) As talks resumed on Friday, Iran continued to refuse to accept wording that it would ‘cut’ and insisted on ‘exemption’, remaining the only sticking point in the OPEC negotiations, while the deal broker, Russia’s Energy Minister Alexander Novak, flew in from Moscow for the non-OPEC part meeting, and sat down for separate talks with each of oil ministers of Iran and Saudi Arabia, Bijan Zangeneh and Khalid al-Falih, respectively.

04.02.2019 - 10:12 [ Forbes ]

High Five At OPEC: Russia And Saudi Arabia Agree To 1.2Mbd Production Cut

(7.12.2018) The countries gathered in Vienna are part of the so-called OPEC+ super-cartel, which includes ten non-OPEC members such as Russia and Kazakhstan. Together, they possess unprecedented influence over the world economy, controlling 55% of global oil supplies and 90% of proven reserves.

04.02.2019 - 10:10 [ theNational.ae ]

Russia and Saudi Arabia to extend Opec+ accord, Putin says

(2.12.2018) Russian President Vladimir Putin said on Saturday he had no concrete figures on possible oil output cuts as Russia and Saudi Arabia agreed to extend their accord to manage the oil market, known as Opec+, into 2019, following a meeting on the sidelines of the G20 summit between Mr Putin and Saudi Arabian Crown Prince Mohammed bin Salman.

04.02.2019 - 09:53 [ Sputniknews.com ]

Russia, Saudi Arabia Move to Control Global Oil Markets – Analyst

(17.6.2018) „This means that the concerted efforts of the OPEC oil cartel, which is regulated first and foremost by the Saudis, and the group of independent oil producing countries led by Russia proved their effectiveness in terms of coordinated actions on global markets. And if this global control mechanism is working, there’s no reason to alter it or get rid of it even as things have finally stabilized,“ the analyst said.