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.
Russia's Gazprom Neft sees global oil deal ending in mid-2019
Gazprom Neft, the oil arm of Russian gas giant Gazprom, expects the global oil deal between OPEC and its allies to end in the first half of the year, a company official said on Tuesday.
Russia sees oil quality normalizing in late May after contamination, output drops
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.
Ukraine says clean Russian oil starts flowing from Belarus
Pipeline operator Ukrtransnafta said on Monday that clean Russian oil had started flowing from Belarus towards Ukraine and it was ready to resume oil exports to the European Union following a transit hiatus over contaminated crude.
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.
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.
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.
Russia blocks news site for anti-Putin graffiti under new law
Russian authorities blocked a regional news website over the weekend over a report about graffiti insulting Vladimir Putin, its chief editor said, under a new ban on insulting officials online.
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