Tag Archives: Russia

Putin Says Russia Ready to Join OPEC Effort to Limit Oil Supply – Bloomberg

Russia, the world’s largest energy exporter, is ready to join OPEC in limiting oil production with either a freeze or a cut, said President Vladimir Putin.“Russia is ready to join in joint measures to limit output and calls on other oil exporters to do the same,” Putin said on Monday at the World Energy Congress in Istanbul. “In the current situation, we think that a freeze or even a cut in oil production is probably the only proper decision to preserve stability in the global energy market.”

Source: Putin Says Russia Ready to Join OPEC Effort to Limit Oil Supply – Bloomberg

Saudi Arabia, Iran, Russia Head Towards Showdown In November

The OPEC meeting held at the International Energy Forum in Algeria lasted over four hours and resulted in a face-saving “understanding” that pushed the hard choices off until November. This is probably enough to fend off falling prices because it will partially appease speculators. Meanwhile OPEC countries have not officially committed to anything but have laid the platform for a potential deal.

Source: Saudi Arabia, Iran, Russia Head Towards Showdown In November

OPEC Delegates Say No Plan for Meeting After Russia Floats Talks – Bloomberg Business

OPEC delegates said there were no plans to hold talks to cut production after Russia’s energy minister said his country was willing to meet with the group next month to coordinate output policy. Alexander Novak said in St. Petersburg that Russia would be willing to discuss output levels with the Organization of Petroleum Exporting Countries, Interfax reported on Thursday. Four OPEC delegates said they had not heard yet of any plans for talks. The group’s next scheduled meeting is in June.

Source: OPEC Delegates Say No Plan for Meeting After Russia Floats Talks – Bloomberg Business