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News // Middle East and OPEC

Barkindo: OPEC, allies should 'remain firm' in achieving output cuts

Mohammad Barkindo urged members of the producer group and its 10 allies to remain firm in achieving their output cut goals.

13 February 2019 , 12:06Neftegaz.RU4780

Russian Energy Minister: Russia can’t cut oil production quickly

Due to weather and geological conditions in the cold Russian winter, Russia cannot cut its oil production too quickly, Alexander Novak said, reiterating Moscow's commitment to stick to the new OPEC+ deal and to gradually reduce production.

21 January 2019 , 01:53Tsvetana ParaskovaNeftegaz.RU3440

OPEC announces forecast on oil production in Azerbaijan

OPEC did not change the forecast for average daily oil production in Azerbaijan at the end of 2018.

14 December 2018 , 10:11Neftegaz.RU7020

Novak sees Russia hitting OPEC plus oil output cut target within 4 months

Novak said that Russia could reach its target to cut oil production by 228,000 b/d under the OPEC/non-OPEC production cut agreement.

12 December 2018 , 14:10Neftegaz.RU6900

Russia’s oil production cuts to take months to implement

After Russia agreed on December 7 to cut its oil production as part of the non-OPEC group tasked with cutting 400,000 bpd of oil production, Energy Minister Alexander Novak said it would take Russia months to get down to its requested level.

10 December 2018 , 00:02Julianne GeigerNeftegaz.RU5230

All eyes on Vienna – OPEC+ must cut 1.5m barrels or wave goodbye to recovery

OPEC and its allies must cut oil production by 1.5 million barrels per day next year.

07 December 2018 , 12:08Neftegaz.RU5810

Qatar to leave OPEC in January 2019

Qatar is set to leave the OPEC, having joined the cartel back in 1961.

03 December 2018 , 15:22Neftegaz.RU6390

OPEC: Oil supply and demand gap could widen in 2019

JMMC concluded that the oil supply could rise above global requirements in 2019.

12 November 2018 , 17:25Neftegaz.RU6760

Kuwait prices new super light crude above Saudi Arab extra light

KPC has set the official selling prices for its new Super Light Crude grade at a premium.

19 October 2018 , 12:06Tsvetana ParaskovaNeftegaz.RU6380

Petrofac secures $50 million contract extension in Iraq

Petrofac secured a 4-year renewal of a contract for maintenance management services for a client in Iraq.

09 October 2018 , 12:07Neftegaz.RU5540

U.A.E. joins OPEC members with commitment to more oil output

The UAE became the latest party to an OPEC-led effort to stabilize the oil market with pledges of an increase in production.

04 July 2018 , 12:06Daniel J. GraeberNeftegaz.RU7400

Russia gets $63.5 billion windfall from OPEC+ deal

Russia’s budget has received more than $63.5 billion in additional revenues thanks to the production cut deal between OPEC and non-OPEC nations.

03 July 2018 , 16:08Tsvetana ParaskovaNeftegaz.RU8430

OPEC+ agrees to increase global oil production by nearly 1 mln barrels per day

OPEC and non-OPEC oil producers agreed on June 23 to share increased oil production in a move that is seen as stabilizing global energy prices.

25 June 2018 , 00:04Neftegaz.RU8980

Russia gears up to boost oil production in July

Russia’s plans for exports and refinery runs in the coming months point to Moscow preparing to increase its oil production, as early as in July.

22 June 2018 , 16:04Tsvetana ParaskovaNeftegaz.RU8150

Iran to veto Saudi-proposed supply boost along with Venezuela and Iraq

Hossein Kazempour Ardebili, said Iran along with Venezuela and Iraq is going to veto Saudi Arabia’s proposal to increase oil production.

19 June 2018 , 18:00Neftegaz.RU8310

Russia boosts oil production before OPEC meeting

Russia pumped 11.09 million barrels of oil daily in the 1st week of June.

13 June 2018 , 16:08Irina SlavNeftegaz.RU8370

Kazakhstan in consultations on easing OPEC oil output reduction agreement

Kazakhstan is consulting other producers on the potential easing of a 2016 oil output reduction agreement.

05 June 2018 , 10:10Neftegaz.RU6780

Key oil industry figures to discuss OPEC policy, sanctions this week in St. Petersburg

Key oil ministers and company executives will gather in Russia later this week for the St. Petersburg International Economic Forum.

22 May 2018 , 18:00Tsvetana ParaskovaNeftegaz.RU7780

OPEC production cuts: Is Russia complying?

Russia’s oil production held onto an 11-month high in April.

03 May 2018 , 18:00Tsvetana ParaskovaNeftegaz.RU9590

'Back-slider' Iraq keeps oil export levels steady

Iraq brought in nearly $6.5 million last month by exporting an average of nearly 3.5 million barrels of oil per day,.

25 April 2018 , 15:23Daniel J. GraeberNeftegaz.RU7670