Slava Ukraini !!
Russia wanted to oust U.S. shale oil from the market, but it turned out the opposite. Independent Russian political scientist Dmitry Oreshkin has said Russia’s defeat in the oil price war and the loss of part of the European market is Russian President Vladimir Putin’s political failure as well. “Of course, this is a terrible geopolitical defeat and a very
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In reversal, Russia assuming more cuts than Saudi Arabia Vladimir Putin’s deal with OPEC to cut oil output and boost prices three years ago was a triumph for the Russian leader, bolstering his clout on the global stage. But now he’s had to make stinging concessions after U.S. President Donald Trump stepped in to end a price war. Amid relief
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The United States is ready to impose heavy oil import duties if the situation with energy prices does not change. This was stated by US President Donald Trump, CNBC reports . According to Trump, the introduction of duties depends on whether OPEC and Russia can agree on such a reduction in production, which will change the situation in the oil market. “Yes, I
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The world’s biggest oil producers will discuss a record round of production cuts by video conference Monday. Russia is ready to cooperate with Saudi Arabia and the United States to cut oil production, President Vladimir Putin said Friday. Putin said Russia was willing to make agreements within the framework of the OPEC+ group and that “we are ready for cooperation
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Exports will be disadvantageous if the current situation remains the same within a month The fall in world oil prices has caused a drop in Russian market prices in late March. It was reported by the Russian edition of Argus. Thus, transportation costs, export duties and other costs exceeded the average value of the Russian Urals export mix in North-Western
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Rosneft chief Igor Sechin says lower prices will knock U.S. shale producers off line.
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International benchmark Brent crude shed 14.1%, or $4.07, to trade at $24.67, its lowest level since 2003. Oil dropped 24% to a more than 18-year low on Wednesday as the coronavirus pandemic continues to sap demand for crude, and as rising worries about a global recession lead to fears of longer-term demand destruction. U.S. West Texas Intermediate crude fell 24.4%,
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Many forecasters have adjusted down estimates on demand for crude, as the virus disrupts business activity, travel and daily life. Oil prices fell below US$30 a barrel on Monday as the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession. Top global oil producers Saudi
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A State Department spokesman said Secretary of State MIke Pompeo had “reiterated U.S. support for Belarusian sovereignty” and “discussed the potential to increase bilateral business ties.”
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Russia is “shaking in their boots” as oil prices continue to plunge, Utah Republican gubernatorial candidate and former U.S. Ambassador Jon Huntsman Jr. stated Tuesday. Triggered by the multiplying threat of coronavirus, oil prices fell 30 percent at the start of the week, the largest one-time drop since the 1991 Gulf War. In an interview on “Fox & Friends” with host Brian Kilmeade, Huntsman said Russia and President Vladimir Putin are concerned about the United States taking more
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9 Mar, 2020 23:14 The US shale market is to bear the brunt of the raging oil price war that has sent Dow Jones and crude prices down, and Saudi Arabia will fare no better. Meanwhile, Russia has got the best hand in the game, Max Keiser believes. There are several causes for the slump in oil prices, and the
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TOKYO (Reuters) – Losing more than a quarter of their value, oil prices were set for their biggest one-day decline in 29 years on Monday, after Saudi Arabia ignited a price war in a market already reeling from the impact of the coronavirus on global demand. Saudi Arabia slashed its official selling prices and made plans to ramp up crude
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The move is seen as retaliation for American sanctions hindering Nord Stream 2 gas pipe completion. On Friday, Russia’s energy minister Alexander Novak told his Saudi Arabian counterpart Prince Abdulaziz bin Salman at the OPEC HQ in Vienna that Russia was unwilling to cut oil production further. The Kremlin had decided that propping up prices as the coronavirus ravaged energy
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State-owned Saudi Aramco has offered oil buyers the biggest discounts in the last 20 years and promises to increase production by more than 2 million barrels per day. About it reports Bloomberg . The newspaper writes that Saudi Arabia plans to increase oil production in April in response to the breakdown of the OPEC + deal with Russia. On Saturday, March 7, Riyadh
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By Irina Slav Russia has rejected a proposal by OPEC to deepen the oil production cuts agreed last December by another 1.5 million bpd, Reuters reported, adding Moscow has only agreed to extend current cuts that total 1.7 million bpd. Energy Intelligence’s deputy bureau chief Amena Bakr tweeted that there is still some hope as Russia was currently discussing the
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