Following the meeting of OPEC and non-OPEC oil exporting states in Vienna, the price of Brent crude oil has dropped below $51 per barrel for the first time since May 15.
Following the meeting of OPEC and non-OPEC oil exporting states in Vienna, Russian Energy Minister Alexander Novak said that oil producers are capable of preventing the rapid fall in prices at the moment, adding that a technical committee working on the issue is in place.
Russian Energy Minister Alexander Novak said on Thursday that oil prices will likely grow in the wake of the Vienna output reduction deal, but won't reach the levels seen before 2014.
The decision to extend the Vienna deal on oil production cuts will help balance the markets, Pavel Zavalny, the chairman of the Russian parliament lower house Energy Committee told Sputnik Thursday.
Russian companies may participate in the development of the offshore Farzad B gas field in the Persian Gulf, Iranian Minister of Petroleum Bijan Zangeneh said Thursday.
Sputnik asked analysts about the prospects of Russia and China resolving certain differences over trade and economic cooperation amid the two states' exceptional political relations.
Russia does not insist on an additional three-month option when extending the agreement to reduce oil production by nine months, Russian Energy Minister Alexander Novak told reporters Thursday.
Cyprus, for whom the United Kingdom is among top five export and import partners, intends to make sure that the negotiations on Brexit do not yield any results harmful to the island on the issues of trade, investment and expatriates' rights for citizens of both countries, President Nicos Anastasiades told Sputnik.
Despite Western economic sanctions against Russia, European investors have been showing increasing interest in Crimea, according to an article in the French newspaper Les Echos.
The head of Poland’s state-controlled oil and gas company PGNiG said Thursday it would protest the European Commission's possible decision to accept Gazprom's proposal to settle alleged anti-monopoly legislation violations.
The Organization of the Petroleum Exporting Countries (OPEC) is highly likely to extend the oil production cuts deal with the same terms for nine months, Minister of Energy, Industry and Mineral Resources of Saudi Arabia Khalid Falih said Thursday.
According to the chief executive officer of Russian Helicopters holding company, the company plans to deliver 220 helicopters to its customers this year.
The future of the European Union as a political project is uncertain and the fall of the euro is only a matter of time, according to Italian economist Antonio Maria Rinaldi.
An annual international economic forum in St. Petersburg signals a revival in US-Russian business dialogue, the Russian city’s governor said Wednesday.
The Organization of the Petroleum Exporting Countries (OPEC) will hold its 172nd ordinary meeting in Vienna on Thursday, followed by a ministerial meeting with non-cartel countries to agree an extension to oil output cuts.
An annual international economic forum in St. Petersburg has been attracting a rising number of participants, with 12,000 expected to take part in this year’s edition of the event, the Russian city’s governor said Wednesday.
There is only one scenario on the table on how long the Vienna oil output cut agreement inked by OPEC and non-OPEC oil-producing countries should be extended, Algerian Energy Minister Noureddine Boutarfa told Sputnik on Wednesday.
Oil output reduction figure, set by November oil production cuts deal agreed by OPEC and non-cartel states, may increase in case new countries decide to join the agreement, Russian Energy Minister Alexander Novak said Wednesday, one day ahead of the oil producers’ meeting where the issue of extending the deal will be discussed.
Workers at a mine in the northeastern Brazilian state of Bahia have discovered an enormous emerald, weighing in at about 600 pounds and standing more than four feet tall.
As the hyper-expensive – and now empty – sports venues built by Brazil for the 2016 Rio Summer Olympics rapidly deteriorate, many of the medals won by the athletes who participated are now revealed to be decaying as well.
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