Saturday, April 4, 2020
Russian President Vladimir Putin called on Wednesday for global oil producers and consumers to address "challenging" oil markets, Reuters reported. Oil prices fell nearly 70% from January highs as coronavirus lockdowns hammered demand and as Saudi Arabia and Russia have flooded the market in a race for market share after...
U.S. President Donald Trump said Tuesday he was ready to help resolve the escalating Saudi Arabia-Russia oil price war, DW reported. The threat of a global recession triggered by the coronavirus pandemic had already hammered prices when Riyadh said last month it would raise exports after the two sides failed...
Oil prices have rallied after a phone call between Donald Trump and Vladimir Putin raised hopes that tensions between Moscow and Saudi Arabia may start to ease, Money Control reported. Brent crude prices rose as much as 3.5% to $23.55 overnight, after hitting an 18-year low of less than $23...
The price of Brent oil hit its lowest point in almost 18 years on Monday, as investors feared the worsening global coronavirus pandemic while Saudi Arabia and Russia showed no signs of ending a price war, Reuters reported. As of 0249 GMT, Brent futures were down 6.7%, or $1.68, to...
Russia's biggest oil company, Rosneft, said Saturday that it's halting operations in Venezuela and selling its assets there to a company fully owned by the Russian government, Reuters reported. The move is apparently intended to protect Russia's largest oil producer from U.S. sanctions while Moscow continues supporting Venezuelan President Nicolas...
The U.S. government will not preview its further steps regarding subsidiaries of Russian company Rosneft, which earlier announced that it had sold all of its assets in Venezuela, a U.S. Department of State spokesperson told TASS. "We do not preview our sanctions activities, but we will continue to look for...
Oil prices tumbled back below $25 per barrel Friday after Saudi Arabia said it hasn't recently held talks with Russia to end a price war that began earlier this month, The Street reported. Brent crude oil, the international benchmark, plunged by 6 percent to $24.77 a barrel while West Texas...
Russia’s Rosatom has introduced measures to prevent their personnel from contracting COVID-19, the state nuclear corporation announced, according to Znak.com. “At present, we have introduced additional measures at all of Russia’s nuclear power plants, including regular health check-ups of our personnel. We have arranged for as many employees as possible...
The global market may need a year or more to balance out in case of a decline in oil supply, while demand, hurt by the coronavirus pandemic, should be watched, Russian Deputy Energy Minister Pavel Sorokin said on Friday, according to Reuters. Earlier this month, Sorokin told the news agency...
Twenty employees of Russian energy giant Gazprom who had contact with a man infected with the coronavirus were isolated at the Bovanenkovskoye field, located in the Arctic Yamal region, the company said on Friday, according to Fedpress. The gas field continues to operate as usual, according to the information department...