Russian energy Gazprom reports first loss since 1999
In a surprising turn, Russian energy giant Gazprom announced a staggering loss of 629 billion rubles ($6.84 billion) for the previous year, marking the first [more…]
Category: Russia
Russia orders oil output reduction to meet OPEC+ target, boosting global prices
In a move to fulfill its commitment to OPEC+ and support international oil prices, the Russian government has directed companies to decrease oil production in [more…]
Rollercoaster week ahead for investors as markets eye U.S. inflation data
Investors are gearing up for a potentially tumultuous week as Asian shares cautiously inched higher on Monday. The market mood remains cautiously optimistic, with hopes [more…]
Oil prices reach four-month high on supply disruptions and economic growth signs
In a surprising turn of events, oil prices surged approximately 2% to reach a four-month high on Monday, driven by a combination of factors including [more…]
OPEC+ expands output cuts and welcomes Brazil in effort to stabilize oil prices
In a move to address persistently low crude oil prices, the OPEC oil cartel, spearheaded by Saudi Arabia and joined by allied producers including Russia, [more…]
Saudi Arabia and Russia maintain oil price agreement amidst Israel-Gaza war
In an announcement on Wednesday, Russian President Vladimir Putin indicated that the oil supply cuts imposed by Saudi Arabia and Russia, effectively withholding 1% of [more…]
Lukoil of Russia extends a $1.5 billion loan to Socar in a partnership aimed at supporting the Turkish STAR refinery’s supply operations
Lukoil, a private Russian oil producer, has agreed to lend Azeri state oil firm Socar $1.5 billion. This deal will allow Socar’s Turkish STAR refinery [more…]
Saudi Arabia and Russia to maintain current voluntary oil supply reductions
Saudi Arabia and Russia, two key OPEC+ partners, have confirmed that they will continue their oil supply cuts in November. This decision comes despite the [more…]
Russian rouble regains some ground following its dip below 100 against the dollar
The Russian rouble initially fell below 100 against the dollar but later recovered slightly during early trading on Tuesday. This decline was attributed to foreign [more…]