Kremlin is cooperating with OPEC in price supportive crude oil production cuts but the symbiotic relationship has given Russia a strong hand.
Share to twitterThe trading week ending Friday saw the Russian ruble atop the list of foreign exchange performance rankings, thereby joining the yen and Swiss franc in making gains against the dollar, at a time when risk appetite has been firmly off thanks to the ongoing US-Chinese trade tensions.
Russian Minister of Energy Alexander Novak , Saudi Oil Minister Khalid al-Falih , and OPEC Secretary General, Mohammed Sanusi Barkindo , surrounded by reporters during the opening of a meeting of energy ministers from OPEC and its allies to discuss prices and production cuts, in Jeddah, Saudi Arabia, Sunday, May 19, 2019.
Subsequently, OPEC and its Russian-led non-OPEC crude producing partners indicated they would probably maintain production cuts which have helped support prices this year, following their ministerial monitoring committee meeting, known as the JMMC, on Sunday in Jeddah, Saudi Arabia. Moscow appears to be at peace with oil prices above $60 per barrel, and Russian Energy Minister Alexander Novak has made little secret of it. From time to time, Novak subtly dangles the threat of the Russians breaking ranks and upping production., were in a similar vein."We are supportive of continuing our cooperation with our colleagues from other countries.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Russia's Novak - too early to discuss proposals to OPEC and non-OPECRussian energy minister Alexander Novak said on Sunday it was still too early to...
और पढो »
Russia's Novak: too early to discuss proposals to OPEC and non-OPECRussian energy minister Alexander Novak said on Sunday it was still too early to...
और पढो »
OPEC has two main options for June meeting, both foresee output rise: sourcesSaudi Arabia and Russia are discussing two main scenarios for a meeting of OPEC ...
और पढो »
Russia energy minister sees options for OPEC deal, including production riseRussian Energy Minister Alexander Novak said there were different options available for OPEC and its oil-producing allies in the second half of 2019, including a possible raising of output.
और पढो »
Oil prices head for 3% weekly gain as OPEC panel meeting convenes amid Middle East upheavalOil futures climb Friday for a fourth straight session, taking both benchmarks to weekly gains to 3%, as any potential demand worries tied to stock-market volatility were offset by supply concerns linked to Middle East tensions.
और पढो »
Oil jumps as Saudi Arabia suggests OPEC+ to keep production cut planOil prices jumped as much as 1 percent on Monday after Saudi Energy Minister Kha...
और पढो »
OPEC Considers Two Scenarios to Adjust Oil ProductionOPEC and its allies are set to debate at least two scenarios that would increase oil production beyond current levels, according to people familiar with the discussions.
और पढो »
Exclusive: Saudi's Falih says sees no oil shortage, but OPEC to act if neededSaudi Arabia's Energy Minister Khalid al-Falih said on Saturday that he saw...
और पढो »
Exclusive: Saudi's Falih says oil stocks still building, but OPEC to act if neededSaudi Arabia's Energy Minister Khalid al-Falih said on Saturday that OPEC w...
और पढो »
Oil surges after OPEC indicates it will maintain output cutsOil rose to multi-week highs on Monday after OPEC indicated it will likely maint...
और पढो »
Oil rises after OPEC+ says to keep output cuts, Iran tension risesOil rose to multi-week highs on Monday after OPEC indicated it would probably ma...
और पढो »