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News
Trump says he is considering sanctions over Nord Stream 2 natgas pipeline
U.S. President Donald Trump said on Wednesday he was considering sanctions over Russia’s Nord Stream 2 natural gas pipeline project and warned Germany against being dependent on Russia for energy.
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Russian oil flows to Europe drop amid contamination
The quality of Russian crude is gradually improving after a contamination scandal that rocked oil markets, buyers said on Tuesday, but Russia’s energy minister cautioned that it will take until the second half of May to fix the problem.
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Oil supply crunch to test OPEC's spare capacity
Oil production capacity could fall to under one percent of global oil demand by the end of the year if OPEC compensates falling production from Iran and Venezuela, leaving oil prices exposed to sharp swings in the event of unplanned outages, analysts say.
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UAE energy minister says Russia committed to OPEC+ oil cuts
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.
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Putin says no imminent decision on oil output cuts
President Vladimir Putin said on Tuesday that Russia and OPEC should discuss the future of their oil output-cutting deal later this year, adding that current oil prices suited Moscow.
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Russian oil company Gazprom Neft looks to Arctic for growth
Russian energy major Gazprom Neft expects the Arctic to account for more than half its oil and gas production by 2020, the company said on Tuesday, reflecting Moscow’s drive to develop the resource-rich region.
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Oil rally stalls on talk of OPEC+ boosting output
Oil prices halted their rally on Monday, with both benchmarks down nearly 1 percent, after Russia’s finance minister said Russia and OPEC may decide to boost production to fight for market share with the United States, where output remains at record highs.
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Russia signals OPEC and allies should raise oil output from June
One of the key Russian officials to foster a supply pact with OPEC, Kirill Dmitriev, signalled on Monday Russia wanted to raise oil output when it meets with OPEC in June because of improving market conditions and falling stockpiles.
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