Intensifying recession fears drove the price of oil to its lowest levels in 18 years on Wednesday as the commodity’s prices went down a staggering 24% to $20.37 a barrel, Business Insider reports.
Selling escalated throughout the day, with 9% morning losses more than doubling by the afternoon. The acceleration...
The ruble dropped to its lowest level against the dollar since February 2016 on Wednesday, following oil prices which slid below $28, TASS reported.
The Russian currency was 3.4% weaker against the dollar at 1058 GMT, reaching 77.99 after touching 79.22, its weakest level since February 2016. It was down...
In a bid to shield the energy industry and its employees from the spread of coronavirus, Russian oil and gas workers in the Arctic Yamal peninsula could see their shifts extended by months, Reuters reported on Wednesday.
The region's governor recommended in an order published on Tuesday that the shifts...
The Russian currency slid again on Monday in response to another rapid drop in oil prices as well as concerns about the impact of the coronavirus on financial markets and the Russian economy, RIA Novosti reports.
The ruble was 2.7% weaker against the dollar at 74.53 by 0818 GMT, and...
The world's biggest 14 publicly-traded oil companies saw their market capitalization decline by a total of $495 billion this week as oil prices, already battered by coronavirus outbreak, crashed after the collapse of an output deal between OPEC and Russia, IAM reports.
The stock price of Saudi Aramco, the world's...
The head of Gazprom Neft, Alexander Dyukov, spoke about the advantages of low oil prices.
"(Low) prices may not be very good for the market, but, on the other hand, <...> (they) will help to improve the market, remove projects with the high cost from the market, which will guarantee...
The price war of the two largest oil producers could hurt other countries where production costs are larger, such as the United States, China, Brazil, and Northern Europe, analysts told TASS.
In the long run, a price war may turn out to be beneficial for both Russia and Saudi Arabia,...
Russian oil companies are comfortable with current and even lower oil prices and are preparing to raise production from April, oil executives said after meeting this week with Energy Minister Alexander Novak, OilPrice.com writes.
Top managers from major firms including Rosneft, Lukoil, Gazprom Neft, Tatneft, and Surgutneftegas, met with the...
The 11th Astana Mining & Metallurgy Congress - AMM 2020 - will be held in the summer of 2020 in Nur-Sultan, a landmark event for the mining and manufacturing industry in Central Asia.
During two days from June 18 to June 19, international industry experts, chief executive officers (CEOs) of...
The possibility of concluding a new OPEC+ deal was not discussed on March 12 at a meeting of Russian Energy Minister Alexander Novak with oil companies, he said on Friday, Neftegaz.ru reports.
Novak added that he does not see conditions for a new agreement at the moment due to the...
