Tag: Alexander Novak

• Tuesday, November 30th 2021 - 09:00 UTC

  OPEC+ meets Thursday to decide January cuts; pre-pandemic oil output level expected to be reached in May

  

  By Tsvetana Paraskova for Oilprice.com – All Russian oil companies have confirmed they can raise production to the levels before the pandemic if the alliance chooses to proceed with monthly increases in output, Russian Deputy Prime Minister Alexander Novak said on Monday.

• Thursday, December 1st 2016 - 15:30 UTC

  Russia ready to do its part as OPEC countries agree on oil output cut

  

  As the Organization of Petroleum Exporting Countries (OPEC) has reached a deal among all 14 members to cut oil production for the first time since 2008, Russia's Energy Minister Alexander Novak said his country was ready to do its part by reducing 300,000 barrels per day in the first half of 2017, provided OPEC adheres to the level of 32.5 mln barrels daily adjusted for Indonesia and on condition of maximum reciprocity from other non-OPEC countries. Russia is not an OPEC member.

• Wednesday, September 28th 2016 - 12:26 UTC

  Iran-Saudi Arabia can't agree on limiting oil supply: “maybe in November”

  

  Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude.

• Monday, February 1st 2016 - 06:22 UTC

  Venezuelan lobbying for oil production reduction: tour begins Monday in Russia

  

  Venezuelan Oil Minister Eulogio Del Pino will visit Russia, Qatar, Iran and Saudi Arabia on a tour of OPEC and non-OPEC countries intended to drum up support for action to stem the tumble in crude prices.