• Oil edges higher after Russia indicates larger output cut

    6 days ago - By Reuters

    Brent oil futures edged higher on Friday after Russia seemed likely to contribute a bigger output cut to an OPEC and non-OPEC deal, but Saudi Arabia voiced pessimism on whether an agreement could be reached as Iran insisted on an exemption.
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  • OPEC ministers, Russia, meeting for oil production cut talks

    6 days ago - By Chron

    VIENNA - OPEC countries are mulling a possible cut to oil production in an attempt to stabilize prices as they meet for a second straight day.
    Heavyweight Saudi Arabia has been pushing a cut of about 1 million barrels a day, but the oil cartel was not able to make a decision on Thursday.
    Analysts say they're likely waiting to hear from non-OPEC Russia to better coordinate the cut.
    Heading in to Friday's meeting in Vienna, Nigerian Petroleum Minister Ibe Kachikwu told reporters he was "hopeful" the nations would be able to reach an agreement.
    Ahead of the meeting Brent, the international...
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  • OPEC yet to agree on final deal as Iran seeks exemptions

    6 days ago - By Reuters

    Iran appeared on Friday to be the main obstacle for an OPEC deal to cut oil production as the group's leader Saudi Arabia had yet to agree exemptions for sanctions-hit Tehran, two OPEC sources said.
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  • Russia's Novak to meet Saudi, Iran ministers before Vienna talks: TASS

    6 days ago - By Reuters

    Russian Energy Minister Alexander Novak will hold separate bilateral meetings with the oil ministers of Saudi Arabia and Iran ahead of a main meeting of oil producers in Vienna on Friday on output cuts, TASS news agency cited sources as saying.
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  • Oil sinks as OPEC mulls Iran supply cut exemption, tries to get Russia on board

    6 days ago - By Reuters

    Oil prices fell on Friday as OPEC discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board.
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  • Oil slides as OPEC ties supply cut to Russia; Moscow said to only back limited move

    6 days ago - By Reuters

    Oil prices fell on Friday, pulled down by OPEC's move to delay a final decision on output cuts as its awaits support from heavyweight supplier Russia, which is reported to not want to reduce its output by more than 150,000 barrels per day .
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  • Oil falls as OPEC ties supply cut to Russia; Moscow said to back limited reduction

    6 days ago - By Reuters

    Oil prices slid on Friday, pulled down by OPEC's move to delay a final decision on output cuts as its awaits support from heavyweight supplier Russia, which is reported to not want to reduce its output by more than 150,000 barrels per day .
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