Browsing Category
Economy
Oil rises 4% as OPEC+ works on output cut deal
Oil prices gained nearly 4% on Thursday, but pulled back from an earlier surge as investors waited for details on negotiations between top producers hammering out an agreement for record supply cuts in response to the global fuel demand…
Saudi, Russia debate record oil cut as U.S. resists action
OPEC and Russia will discuss record oil output cuts on Thursday to support prices hammered by the coronavirus crisis but talks are complicated by internal disagreements and the reluctance of the United States to join in any action.…
Kremlin calls for coordinated joint action on global oil markets
Russia wants coordinated joint action to stabilise global oil markets, Kremlin spokesman Dmitry Peskov said on Thursday ahead of a meeting between OPEC and non-OPEC producers.
Asked if Russia had been given assurances the United States…
Iran presses for IMF loan; some business to stay shut despite easing
President Hassan Rouhani pressed harder on Wednesday for a $5 billion emergency IMF loan Iran has sought to fight the Middle East’s worst coronavirus outbreak, saying the Fund would be guilty of discrimination if it withholds the money.…
U.S. should stop preventing Iran from selling oil: Iran foreign minister
The United States should stop preventing Iran from selling oil, Iranian Foreign Minister Mohammad Javad Zarif tweeted on Tuesday.
“What we want is for (U.S. President Donald Trump) to STOP preventing Iran from selling oil & other…
Russia confirms its participation in OPEC+ meeting on April 9
Russia on Tuesday confirmed its participation in the OPEC+ meeting of leading oil producers set for April 9, a spokeswoman for energy ministry told Reuters.
The conference, due to be held via a video link as a precautionary measure…
Qatar to postpone $8 billion of contracts from projects due to coronavirus
Qatar’s ruler has asked the government to postpone $8.2 billion in unawarded contracts on capital expenditure projects due to the coronavirus outbreak, a bond prospectus seen by Reuters showed.
The spread of the coronavirus may continue…
Russia and Saudi ‘very close’ to oil deal, Moscow envoy says
Saudi Arabia and Russia are close to a deal on oil output cuts to reduce a global glut, a top Russian oil negotiator said on Monday, but details such as how to share out production curbs remained unclear ahead of talks planned for later…
Kremlin says Russia is ready for oil market cooperation
Moscow is ready to coordinate with other leading oil exporting countries to help to stabilise the global oil market, the Kremlin said on Monday.
Kirill Dmitriev, head of Russia’s wealth fund, told CNBC earlier on Monday that Saudi Arabia…
Oil falls after Saudi Arabia, Russia delay meeting
Oil prices fell on Monday after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help reduce global oversupply as the coronavirus pandemic pummels demand.
Brent crude LCoc1 fell more than $3 when Asian markets…