Archiv: OPEC plus


09.03.2020 - 15:59 [ CNN ]

Oil crashes by most since 1991 as Saudi Arabia launches price war

Saudi Arabia escalated the situation further over the weekend. The kingdom slashed its April official selling prices by $6 to $8, according to analysts, in a bid to retake market share and heap pressure on Russia.

09.03.2020 - 15:55 [ Japan Times ]

Collapse of OPEC talks blows hole in Russian-Saudi alliance

(07.03.2020)

The OPEC+ meeting in the diary for June was unlikely to go ahead, a delegate said, and the dates were removed from the cartel’s website. Another person said Russia was still willing to join those talks.

Senior OPEC officials, from Secretary-General Mohammad Barkindo to United Arab Emirates Energy Minsiter Suhail Al Mazrouei, still held out hope that Russia would come back into the fold.

09.03.2020 - 15:41 [ CNN ]

US stocks halted after falling 7%. Global stocks plunge as oil crashes and coronavirus fear spreads

The S&P 500 (SPX) fell about 6%. The Dow (INDU) fell as many as 2,046 points. The Nasdaq Composite (COMP) was down 5.4%. The New York Stock Exchange halted trading for 15 minutes after stocks plunged more than 7%. They retraced some of their losses after the market reopened.

13.10.2019 - 11:07 [ AlArabiya.net ]

Putin praises Saudi-Russian relations, condemns Aramco attacks, in interview

“If anyone thinks that seizing tankers and attacking oil infrastructure can in any way affect cooperation between Russia and our Arab friends, Saudi Arabia and the UAE, that they can undermine or break down our cooperation with OPEC+, then they are profoundly wrong,” said Putin, addressing a question on regional security.

“On the contrary, we will forge ever closer ties because our main goal is to stabilize global energy markets,” he added, saying that Russia remained committed to the initiatives of the OPEC+ group of oil producers driven by Saudi Arabia’s Crown Prince Mohammed bin Salman.

20.09.2019 - 18:15 [ Moscow Times ]

Russia Could Gain From Saudi Oil Attack – Analysts

(17.09.2019)

Russia is set to be a major winner after an attack on Saudi Arabian oil facilities slashed production and ramped up tensions in the Middle East, analysts predict.

In a frantic day for the world’s markets, oil prices climbed by almost 15% Monday following the drone attacks on Abqaiq, Saudi Arabia’s largest oil refinery, which pumps around 5% of the world’s oil supply.

15.09.2019 - 08:13 [ theGuardian.com ]

Pompeo: Iran behind attack on Saudi oil facilities that will reduce kingdom’s output

On Saturday, before Pompeo’s tweet, the White House said Trump had spoken to Saudi Crown Prince Mohammad bin Salman, “to offer his support for Saudi Arabia’s self-defense”.

14.09.2019 - 21:09 [ Wall Street Journal ]

Saudi Arabia Shuts Down About Half Its Oil Output After Drone Strikes

(14.09.2019)

Yemen’s Iranian-aligned Houthi rebels claimed credit for the attack, saying they sent 10 drones to strike at important facilities in Saudi Arabia’s oil-rich Eastern Province. The production shutdown amounts to a loss of about five million barrels a day, the people said,…

14.09.2019 - 21:04 [ Today.ng ]

Saudi, Russia call for better compliance with OPEC oil cuts

(12.09.2019)

Oil prices tumbled more than 2 per cent on Wednesday after a report that U.S. President Donald Trump was considering easing sanctions on Iran, which could boost global crude supply at a time of lingering worries about energy demand.

14.09.2019 - 20:55 [ Nayla Razzouk / Twitter ]

OPEC+ meeting starting soon here in Abu Dhabi. #OPEC SecGen Barkindo, Saudi, Russia, UAE, Venezuela holding pre-meeting now. #OOTT

(11.09.2019)

20.07.2019 - 18:24 [ Yahoo.com ]

Russia agrees with Saudi Arabia to extend OPEC+ oil output deal

(29.07.2019)

Putin, speaking after talks with Saudi Crown Prince Mohammed bin Salman, told a news conference the deal – which is due to expire on Sunday – would be extended in its current form and with the same volumes.

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 - 10:32 [ @mnaEN / Twitter ]

#OPEC oil supply has fallen in January by the largest amount in two years, a Reuters survey found, as top exporter #SaudiArabia over-delivered on the group’s supply pact while #Iran, #Libya and #Venezuela registered involuntary declines.

(31.1.2019)

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.