Saudi Arabia and Russia are close to a deal on oil output cuts to reduce a global glut, top Russian oil negotiator says
Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al Saud and Russia's Energy Minister Alexander Novak are seen at the beginning of an Opec and Non-Opec meeting in Vienna, Austria, December 6, 2019.
"I think the whole market understands that this deal is important and it will bring lots of stability, so much important stability to the market, and we are very close," Kirill Dmitriev, one of Moscow's top oil negotiators who also heads Russian's sovereign wealth fund, told CNBC. Riyadh and Moscow blamed each other for the failure and launched a battle for market share, sending oil prices to their lowest in two decades, which has strained budgets of oil-producing nations and hurt higher-cost producers in the United States.But initial plans for an Opec+ meeting on Monday were delayed, with two Opec sources saying a video conference would now be held at 1400 GMT on Thursday.
Russia and Saudi Arabia have long been frustrated that curbs by the Organization of the Petroleum Exporting Countries and others have left a gap that has been filled by shale oil firms in the United States, which became the world's biggest producer.Riyadh, with by far the world's biggest reserve of extra capacity, has insisted it will no longer carry what it considers an unfair burden of cuts.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Russia, Saudi 'very, very close' to a deal on oil output cuts - CNBCSaudi Arabia and Russia are 'very, very close' to a deal on oil production cuts, Russia's sovereign wealth fund chief told CNBC on Monday https://www.cnbc.com/2020/04/06/russia-saudi-arabia-are-very-close-to-an-oil-production-deal-rdif.html.
Baca lebih lajut »
Ratcheting up the tension, Saudi Arabia admonishes Russia over oil price collapseSaudi Arabia has sharply criticized Russia over what it describes as Moscow blaming the kingdom for the collapse in global energy prices.
Baca lebih lajut »
OPEC+ meeting delayed as Saudi Arabia and Russia row over price collapseOPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between Moscow and Saudi Arabia over who is to blame for plunging oil prices.
Baca lebih lajut »
Oil prices under pressure from Saudi-Russia disputePrices may decline more gradually after Saudi Arabia sent a signal that a production cut deal may be ahead, and the US has said it will put pressure on Saudi Arabia and its allies for such a deal.
Baca lebih lajut »
Oil set to 'crater' Monday as OPEC meeting delayed, tensions flare between Saudi Arabia and RussiaThe meeting between OPEC and its allies scheduled for Monday has been postponed amid ongoing tensions surrounding production cuts.
Baca lebih lajut »
Oil prices set to open lower due to Saudi-Russia rowGlobal benchmark oil prices are expected to open lower on Monday as a dispute between top crude exporters Russia and Saudi Arabia raises concerns of another collapse in talks to curb production at a meeting this week.
Baca lebih lajut »