OPEC and its allies outside the group agreed to maintain oil production cuts until the end of 2018, extending their campaign to wrest back control of the global market from America’s shale industry.
Brent held near $64 after OPEC agreed to extend production curbs to the end of next year, giving the market what it expected.
OPEC and Russia are ready to extend their oil production cuts until the end of next year to ensure global stockpiles keep falling and prices maintain recent gains.
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OPEC’s in a quagmire, foreshadowing disappointment for oil bulls counting on the group and its allies extending output curbs by nine months, according to Goldman Sachs Group Inc.
Oil slipped from the highest close in more than two years after U.S. drillers expanded operations while OPEC and Russia prepare to discuss longer supply curbs.
OPEC and Russia have crafted the outline of a deal to extend their oil production cuts to the end of next year, although both sides are still hammering out crucial details, according to people involved in the conversations.
Oil advanced to a fresh two-year high as OPEC and Russia were said to have crafted the outline of a deal to extend their oil production cuts to the end of next year.
Oil traders and analysts almost unanimously expect OPEC and Russia to prolong their production cuts next week. However, behind the scenes Saudi Arabia and Russia are still debating what course to follow.
A Chinese firm that’s grown from a small local trader to a global deal-making juggernaut sold its first cargo of Russian crude after buying a $9 billion stake in Rosneft.
Russian authorities have confirmed reports of a spike in radioactivity in the air over the Ural Mountains.
Prosecutors have displayed two million dollars in cash, which they claim was a bribe, at the corruption trial of a former Russian economic development minister.
Russian and Ukraine focused JKX Oil & Gas has hired Ben Fraser as its new chief financial officer.
Russia’s Yamal LNG, set to be the world’s biggest Arctic producer of liquefied natural gas, plans to send its debut cargo to China as thanks for its support.
A Russian helicopter with eight people on board has fallen into the sea off Svalbard, an Arctic archipelago that belongs to Norway, rescue officials said.
Russian oil giant Rosneft has agreed to operate Kurdistan's main oil pipeline.
At least eight ships carrying fuel cargos from Russia are believed to have turned toward the communist state rather than their declared destination.
A $9 billion stake in one of the world’s biggest oil companies may not be enough for CEFC China Energy Co.
Gazprom PJSC’s profit slumped in the last quarter, cooling the prospect of an increased dividend from the world’s largest natural gas producer.
Russian oil giant Rosneft today confirmed that it had completed the acquisition of 49% of Indian firm Essar Oil.
A leading oil economist has warned that global production cuts agreed to by the Opec cartel and 11 other countries including Russia may not be enough to overcome the rise of US shale.
President Donald Trump insists his support is stronger than ever, despite a report that some Republicans are weighing a 2020 presidential run without him.
The United States will respond by September 1 to Russia’s attempt to force a major reduction in American diplomatic staff, Rex Tillerson has said.
BP's chief executive does not expect the latest batch of sanctions imposed on Russia by Washington to have an adverse impact on the oil major's operations.
US coal will be heating homes in the Ukraine this winter after a landmark deal was struck between the two countries.