Russia

Who Cares About OPEC’s Monthly Oil Market Report Anymore?

There was a time when any pronouncement on the oil market from Vienna, home of the Organization of the Petroleum Exporting Countries (OPEC), was parsed with nearly the same care ...
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OPEC Cuts Will Fail to Raise Demand for Oil: IEA

The world's supply of oil is returning — slowly — to balance. In the first half of 2019, supply exceeded demand by 900,000 barrels a day, but the second-quarter excess ...
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Why Does OPEC Even Hold Meetings?

The Organization of the Petroleum Exporting Countries (OPEC) has officially agreed to extend its production cuts for an additional nine months. And the sun rose in the east. The agreement ...
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The Russian Tail Wags the OPEC Dog

This past Saturday at the G-20 meeting in Osaka, Russian President Vladimir Putin announced that Russia and Saudi Arabia had struck a deal to maintain their current output cuts at ...
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Can OPEC and Russia Combined Stop Falling Oil Prices?

Monitoring the price of oil in a macroeconomic situation with volatile financial markets can get a bit tricky. Now that oil officially has entered into a bear market by falling ...
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US Senate Takes Aim at OPEC, but Will It Follow Through?

On Thursday, a bipartisan group of four U.S. Senators introduced legislation titled the No Oil Producing and Exporting Cartels Act (NOPEC) that would give the U.S. Department of Justice authority ...
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The 15 Nations That Control the World’s Gold

As 2018 turned into 2019, the easy reflection would be that it was a wild ride in the global equity markets. The year 2018 turned out to be a pretty ...
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OPEC and Partners Agree to 1.2 Million Barrel per Day Production Cut

Although an official announcement has not yet been made, reports from the Vienna meeting between the Organization of Petroleum Exporting Countries and its Russia-led partners (aka, OPEC+) indicate that OPEC has ...
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OPEC, Canada Make Moves to Raise Crude Prices

At last week's G20 meeting in Buenos Aires, Saudi Arabia and Russia agreed to extend their crude oil production cuts in an effort to raise the price of benchmark Brent ...
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Can Saudi Arabia Stop the Slide in Crude Prices?

The meeting of the G20 developed economies that began in Buenos Aires Friday has plenty on its agenda, not least of which is what two of the world's top three ...
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Crude Oil Price Remains Soft Following 10th Straight Weekly Rise

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning, showing that U.S. commercial crude inventories increased by 3.6 million barrels last week, maintaining a total ...
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Saudi Oil Production at Record High, Raising Likelihood of Cuts

As much as Saudi Arabia wants the world to believe that it calls the tune in world oil markets, the facts indicate otherwise. And now that the Trump administration has ...
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Crude Oil Price Creeps Higher Despite Another Massive Inventory Build

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Thursday morning showing that U.S. commercial crude inventories increased by 10.3 million barrels last week, maintaining a total ...
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Saudi Arabia, Russia Boost Oil Supply by 250,000 Barrels in September

In its Monthly Oil Market Report for October, released Thursday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's average price for its reference basket soared ...
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Saudi Arabia, Russia Agreed Last Month to Raise Output: Reuters

In an exclusive report Wednesday morning, Reuters reveals that Saudi and Russian oil ministers met privately last month, ahead of the OPEC meeting in Algiers, to strike a private deal ...
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