Oil

The lack of compromise at the meeting of oil-producing countries in Doha for the freezing of oil production will be rather negative for the level of prices for oil, said energy Minister Alexander Novak. “As for prices – see how the market reacts. In my opinion, this failure to achieve …

The price of Brent oil on the London exchange ICE in the first minutes of trading after a break for the weekend fell more than 7 per cent, to $ 40,22 USD per barrel. This is evidenced by data exchange. The price drop is due to the fact that last …

In the draft agreement about freezing of oil production volumes, to be signed April 17 in Doha (Qatar), there is a new item — that all OPEC countries have to join it, reports Reuters with reference to sources. This condition is the main obstacle to reaching a compromise, because Iran …

The draft agreement on freezing of the oil is improved, while energy Ministers from oil-producing countries participating in the negotiations in Doha, took a break, informs the Agency Bloomberg with reference to informed sources. According to them, the amendments will take into account the position of Iran. The talks will …

The members of the trade Union of workers of petroleum industry of Kuwait went on strike on Sunday that oil production in the country fell with the March of 2.81 million barrels a day (b/d) to approximately 1.1 million b/d, said the representative of the Kuwait Oil Corporation. Co. Saad …

In OPEC believe that the collapse in oil prices, which lasted a year and a half, will soon reach the bottom. This is stated in the statement of the Secretary General of OPEC Abdullah El-Badri, posted on the IMF website. El-Badri, in particular, points to the recent recovery in oil …

Saudi Arabia, with a budget of more than 90 percent dependent on oil exports, is going to develop a plan for substitution of commodity revenues. According to Bloomberg, citing the statement of the second crown Prince of Saudi Arabia Mohammed bin Salman, a national program to increase non-oil revenue will …

It is expected that the draft agreement is approved, however, it is not coercive in nature. At the meeting in Doha countries becoming major oil producers have prepared a draft agreement, according to which the extraction of “black gold” will be frozen until October 2015, said the Minister of energy …

Meeting of oil-producing countries in Doha may start in the afternoon because of changes in the event program. About it RIA Novosti said a source in the delegation of one country. “The heads of delegations of the oil-producing countries are now going to the Emir of Qatar [Tamim bin Hamad …

The oil Minister of Oman, Mohammed al-Rumhi believes that the decision by producing countries to freeze the oil will help to balance the market before the end of this year, reports Bloomberg.   According to him, the draft agreement discussed at the meeting of oil-producing countries in Doha, involves the …