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Press Secretary of the President of Russia Dmitry Peskov said that President Vladimir Putin is not in the plans for international calls before the OPEC meeting .
As expected, the question of the parameters of the deal, OPEC in August will be decided this week. On 14 July a planned meeting of the technical Committee of experts of the OPEC (JTC), and on July 15 - Ministerial monitoring Committee (JMMC).
The Libyan national oil company (NOC) again declares force majeure on oil supplies due to the blockade of exports, according to a release from the company.
"The Libyan national oil company (NOC) ... condemns the renewed blockade on the export of Libyan oil... NOC is forced to declare force majeure on all oil exports from Libya," - said in a release.
Mexico has fulfilled its part of the deal, OPEC intends to increase oil production, said the country's President, Andres Manuel Lopez Obrador.
"We have fulfilled our obligations to reduce production at 100 thousand barrels per day. This stage is completed, we'll build up manufacturing," the President said during the morning press conference.
Leading expert of the national energy security Fund Igor Yushkov called analysts in the Wall Street Journal that the price of oil in 2025 could rise above $ 150 per barrel, "a pretty bold statement." This told RT.
In his opinion, similar prices may occur with a significant deficit.
After a volatile beginning of the year for oil prices may in the future climb above $ 100 per barrel and reach $ 150 by 2025, allow analysts quoted by the newspaper Wall Street Journal.
As writes the edition, some experts predict a fall in investments in oil and gas production, which can lead to price spikes above $ 100 per barrel. "This financial pressure will be significant. Some manufacturers will be really difficult to implement mining... Prices can quite easily reach $ 150 by 2025", - the newspaper quoted Director of the Northern investment Capital Trace Trevor wood (Trevor Woods).
Oil prices Thursday morning showed multidirectional dynamics on the background of signs of recovery in U.S. demand, while being under the pressure of fears of the resumption of quarantine measures, according to the auction.
As at 7.43 MSK price of the September futures for North sea petroleum mix of mark Brent have grown on 0,05% - to 43.31 USD per barrel. August futures for WTI crude oil became cheaper by 0.1% to 40.86 USD per barrel.
Oil prices on Thursday morning to grow for the second consecutive trading session on the wave of optimism caused by the reduction of inventories in the United States, according to the auction.
As of 7: 40 am GMT, the September futures price for North sea petroleum mix of mark Brent has grown on 0,21% - to 42.12 per barrel. August futures on WTI rose in price on 0,13% - to 39,87 USD per barrel.
WTI crude oil rose in the second quarter of the year to 93%, Brent - 59%, according to the auction.
At the end of trading Tuesday, the September futures price for North sea petroleum mix of mark Brent fell by 1.2% to 41.27 per barrel, the August futures for WTI - by 0.7% to 39.27 USD per barrel.
Oil exports (excluding petroleum products) from Russia to the United States in April fell by more than 12 times on a monthly basis, to 396 thousand barrels, Russia dropped to 16th place in the ranking of the largest suppliers of oil in the United States, according to the energy information administration of energy of the United States (EIA).
In March Russia occupied the 7th place, putting in the United States 4,888 million barrels of oil. In April in the first place were Canada, which is followed by Mexico, Saudi Arabia and other countries.
Tanker with 85 thousand tons of Azerbaijani oil for Belarus arrived in the Ukrainian port "South", it is planned that 10-15 July, the oil will go to the Belarusian refinery in Mozyr, told RIA Novosti on Tuesday the press-Secretary of the state concern "Belneftekhim" Alexander Tishchenko.
Earlier Tishchenko has informed that Minsk within the framework of diversification of oil supplies to its refineries has purchased another tanker of oil from the state oil company of Azerbaijan (SOCAR).
At the auctions of Sankt-Petersburg international commodity exchange was established a record price for gasoline AI-95.
At the end of the trading session on 29 June, the price of this brand of fuel for delivery in the European part of Russia reached 58,174 thousand rubles per ton. It grew by 0.4 percent compared with the previous indicator.
Oil prices on Monday morning, significantly reduced the concerns about the coronavirus and its impact on demand for raw materials, according to the auction.
As at 7.48 GMT, the September futures price for North sea petroleum mix of mark Brent fell by 1.88 percent to 40.18 percent. August futures for WTI crude oil depreciated by 2.21% to 37.64 per dollar per barrel.
Oil prices on Friday morning significantly increase in optimism around the prospects of a recovery in demand for raw materials, according to the auction.
As at 7.54 GMT the price of August futures for North sea petroleum mix of mark Brent has grown on 1,39% - to 41.62 USD per barrel. August futures on WTI rose in price on 1,29% - to 39.22 per barrel.
Oil prices continue to decline on the background of the spread of coronavirus and rising stocks of raw materials in the United States, according to the auction.
As of 8:25 Moscow time the cost of the August futures for North sea Brent was down by 0.79% to 39.98 USD per barrel. August futures for WTI became cheaper by 0.63% — to 37.77 USD.
The rate of decline in global oil prices has accelerated to about 4.5% after the release of statistics US Department of energy on its reserves and production in the country, according to the auction.
As at 17.56 GMT the price of August futures for North sea petroleum mix of mark Brent fell by 4.46% to 40.73 per barrel, the August futures for WTI - by 4.63% to 38.5 percent. Earlier in the day, these prices fell to 1-1,5%.
Russian oil Urals from the beginning of June has risen in Europe by more than $ 7, 45-46 dollars a barrel, the brand is still trading with a premium to Brent, which however decreased and now stands at 1.55 per barrel in the North-Western market and 2.55 dollars in the South, according to the pricing Agency Argus.
"Urals is still sold at a premium to the benchmark (Brent - ed.) against the background of limited supply. So, the award for party of the Russian varieties in North-West Europe on 23 June was 1.55 per barrel Since the beginning of June, the award was reduced to $ 0.75 due to the low margin of processing in Europe and the worsening of conditions for arbitration of supply. In absolute terms, Urals rose by 7.42 dollar after the Etalon, to 45,06 per barrel", - reported in the review of the Agency.
The ruble in the course of passing the address of the President of Russia Vladimir Putin to the citizens and added a little more than 10 cents against the U.S. currency, while the growth of oil prices slowed somewhat, according to data from the Moscow exchange.
The dollar calculations "tomorrow" to 17.58 GMT is reduced by 37 cents, to 68,65 ruble. Before the start of the statements of the President of the Russian Federation, the ruble had gained 34 kopecks against the dollar, then the dollar has lost 47 cents, sinking to 68,55 ruble.
Oil prices Monday morning show a negative trend amid lingering concerns over the recovery of demand, according to the auction.
As of 7.57 GMT the price of August futures for North sea petroleum mix of mark Brent fell by 0.26% to 42.09 USD per barrel. August futures for WTI crude oil depreciated by 0.48% to 39.66 USD per barrel.
Pre-crisis demand for oil can be reached no earlier than 2021, perhaps within two to three years, said energy Minister Alexander Novak in interview to the newspaper Handelsblatt.
"Of course, not this year. We hope that this will happen in 2021. But, maybe it will take two or three years", - said the Minister, answering the question, when can be restored to pre-crisis level of oil prices.
World oil prices rise on Friday afternoon on average by 2.5%, markets digest the results of the meeting of OPEC , which supports expectations for the balance of supply and demand of oil, according to the auction.
As at 13.23 GMT the price of August futures for North sea petroleum mix of mark Brent has grown on 2,24% - to 42,44 dollars per barrel. July futures on WTI rose in price by 2.83% to 39,94 USD per barrel. In the morning, oil rose in price by about 1%, and the day growth of quotations reached 3% or more. Since the beginning of the week oil quotations grew on average by almost 10%.
Uncertainty about oil demand in the world in the third quarter of this year increases the growth risk of a new wave of the spread of coronavirus, told RIA Novosti researcher on energy issues of the European analytical centre CEPS Irina Kustova.
Earlier, OPEC in its June report predicted that demand for oil in the world will decrease by 6.4 million barrels per day in the second half of the year compared with a decline of 11.9 million barrels per day in the first half of 2020.
Oil prices decline on Monday by 2-3% due to concerns about slow demand growth for raw materials, intensified against the background of growth in the number infected with the coronavirus in the United States, according to the auction.
As at 7.47 GMT the price of August futures for North sea petroleum mix of mark Brent fell by 2.3% to 37,85 dollars per barrel. July futures on WTI oil depreciated by 3.34% to 35.05 USD per barrel.
Oil prices accelerated the rate of decline after the closure of the stock markets of Europe, oil prices are losing connection with the publication of new macroeconomic forecasts of the Federal reserve system (FRS), according to the auction.
As of 19.30 Moscow time the price of August futures for North sea petroleum mix of mark Brent fell by 8.65% to 38,12 dollars per barrel
The government of Saudi Arabia has called all the major oil producers that do not participate in the transaction of OPEC , to take part in the stabilization of the market of hydrocarbons, said the report on the results of the weekly meeting of the Cabinet of Ministers on the social network Twitter.
The Saudi government indicated that the last meeting of OPEC Ministers and the producer countries of OPEC reaffirmed "the continuing commitment of countries to the desire to achieve stability of the market in such a way that would meet everyone's interests and would guarantee security of supply for consumers."
The arrival of the first train procured Belarus American oil from the Lithuanian port in Klaipeda at the refinery of Naftan, in the Vitebsk region of the Republic is expected in the coming Thursday, the press Secretary of the state concern "Belneftekhim" Alexander Tishchenko.
The first tanker for Belarus with 77 thousand tons of crude oil of the Bakken varieties arrived in the Lithuanian port of Klaipeda late in the evening of 5 June. It was planned that after unloading, the oil is sent by rail to the refinery in Novopolotsk, Vitebsk region. This is the twelfth tanker delivery this year from suppliers, the Russian alternative. The total amount of tanker deliveries exceeded 1 million tons of oil.
The Iraqi state company State Oil Marketing Organization (SOMO) has asked some Asian buyers to refuse the supply of oil brand Basrah loading in June and July, says the Agency Bloomberg, citing sources familiar with the situation.
"SOMO asked the companies do not consider whether they have the ability not to accept certain goods in the framework of the contracts for these months," said sources.
The new oil Minister of Iraq Ihsan Abd al-Jabbar during a telephone conversation with Minister of energy of Saudi Arabia Abdulaziz bin Salman reiterated the commitment of the Baghdad agreements on the reduction of oil production during June-July and beyond, it is told in received RIA Novosti news Agency the statement a press-services of the Ministry of Iraq.
The Ministers discussed strengthening bilateral relations and cooperation in mutual interest to their fields.
The price of Russian Urals oil at the end of trading Friday in North-West Europe rose by 3.44 per dollar, reaching 42.55 USD per barrel, reported RIA Novosti in the international price Agency Argus.
"At the end of trading Friday the price of Urals in Northwest Europe rose to 42.55 USD per barrel", - said the Agency. While on Thursday the cost of stamps in the region were 39,11 per barrel.
Futures price of WTI rose above $ 40 a barrel for the first time since March 6, according to the auction.
As at 1.17 GMT July futures on WTI rose in price by 2,70%, to 40.00 dollars.
The Saudi state company Saudi Aramco raised prices on oil supplies in July, reports Bloomberg referring to him with the price list of the company.
Previously, Saudi Aramco has postponed the announcement of the July prices for its oil until the resurrection, awaiting the outcome of OPEC meeting .
The solution to overcome the reduction of oil production reached in the framework of OPEC, will serve to further stabilize the market, says the Senator Oleg Morozov.
In April, OPEC agreed to cut oil production to 9.7 million barrels per day in may-June, 7.7 million in the second half of the year and 5.8 million next until the end of April 2022. Base count taken October 2018, but for Russia and Saudi Arabia taken 11 million barrels per day, from which by analogy with all is a decrease of 23%, 18% and 14% respectively. On Saturday, OPEC agreed to extend the current reduction of oil production to 9.7 million barrels per day by the end of July.
OPEC extended the reduction of oil production to 9.7 million barrels per day in July, said the head of Ministry Alexander Novak.
According to the Minister, the decision was made to strengthen the impact of the deal reached in mid-April.
Joint action by OPEC has allowed to avoid serious consequences of the significant drop in oil demand in history, said the Minister of energy of Russia Alexander Novak.
"I would like to Express my gratitude to all the participants of the Ministerial meeting of OPEC, held on 9 and 12 April this year, for the constructive decisions that have been taken for the joint action, which allowed us to avoid serious consequences today, the most significant in the history of the decline in demand on the world oil market", - said Novak.
OPEC decided to maintain the current level of oil production until the end of July, reported RIA Novosti a source in the organization.
"OPEC approved the extension of the reduction to 9.7 million barrels per day for a month," he said.
The meeting of OPEC on the fate of the deal, OPEC began in a videoconference, stream is on the website of the organization.
Energy Ministers of the OPEC countries and OPEC on Saturday to hold meeting where will be discussed the first results of the transaction, its national implementation and the further fate of the agreement to reduce oil production.
The Federal Antimonopoly service (FAS) of Russia issued a warning to the President of the Independent fuel Union (NTS) Pavel Bazhenov because of the statements about the upcoming increase in prices of petroleum products, according to service.
"FAS Russia warns the President of the Union of independent participants of the fuel market "Independent fuel Union" from taking actions that may violate the law on protection of competition Public statements about the upcoming increase in prices of petroleum products in the absence of objective reasons unacceptable," - said in the message.
The increase in world oil prices accelerated to 3% on Friday afternoon in anticipation of Saturday's OPEC meeting and possible solutions to reduce production, according to the auction.
As at 13.46 GMT the price of August futures for North sea petroleum mix of mark Brent grew by 3% to 41.18 per barrel, the July futures for WTI - by 2.38%, to 38.3 per barrel. On the morning of Friday the rise in oil prices did not exceed 0.5%.
The Belarusian energy Ministry has announced that it has sent a letter to Gazprom with proposals on gas supplies in 2020.
It also speaks about the methods of pricing in 2021, added the Agency.
Meeting of the agreement to reduce oil production by OPEC will be held on Saturday, June 6, told RIA Novosti source in one of the delegations of the Alliance.
The source added that an official invitation for a meeting has not yet sent delegations.
The world prices for oil on Friday grow, investors are expecting new information about the dates of the meeting of the representatives of the countries of the OPEC deal , according to the auction.
As at 7.45 GMT the price of August futures for North sea petroleum mix of mark Brent has grown on 0,55% - to 40,21 per barrel. July futures on WTI rose in price on 0,24% - to 37.5 per barrel.
Moscow says the stabilization on the world markets of energy resources, the Minister of energy of Russia Alexander Novak is in constant contact for the development of the situation with their colleagues from other countries, said the press Secretary of the President Dmitry Peskov.
"In General, we observe a stabilization on the international energy markets. And again, Novak is in contact with its partners, all the rest of some announcements we do not believe it is now possible," he added.
The head of VTB Andrey Kostin not surprised by the rapid recovery of the ruble, he believes that the dollar should cost no more than 70 rubles.
"No, because we always talked about the fact that our ruble to a certain extent undervalued. But the oil situation has really dealt a serious blow, but in General the Russian economy after all, has considerable reserve, and the macroeconomic indicators are unique," said Kostin in an interview to Business FM, answering a question, it is not surprising if his "rapid recovery of oil and especially of the ruble".
The fall of the oil market in connection with the pandemic coronavirus infection had a negative impact on the oil industry of Equatorial Guinea, in particular, the country had to postpone plans to develop two oil projects from this year to 2021, said in an interview with RIA Novosti, the Minister of mines and hydrocarbons, Equatorial Guinea mbaga of Gabriel Obiang Lima.
"Like any producer of oil, this shock did not escape. But I think ours was less, given the size of the production, and the country. We made a couple of discoveries (oil reserves - ed.) in 2019, and our plan was to continue working on them this year to increase production. But with the current prices make sense to build it there. So it was decided to postpone these projects for 2021," he said.
The OPEC Secretariat to provide delegations with their assessment of the oil market that OPEC Alliance will be guided, making decision at the upcoming Ministerial meeting, but the worst period for oil has not yet passed, said in an interview with RIA Novosti, the Minister of mines and hydrocarbons, Equatorial Guinea mbaga of Gabriel Obiang Lima.
"I think what we are doing now that OPEC always does, we are monitoring what the impact is now on offer and on demand, and on prices. This monitoring lies in the area of responsibility of the Secretariat (OPEC – ed.). And the Secretariat had recently sent delegations of different assessment of the situation. On the basis of this assessment will be recommended to the Ministers (for the fate of the deal, OPEC - ed.)", - told the Minister about what discussions are now OPEC on the fate of the agreement on the reduction of oil production.
Countries which have concluded a deal OPEC and discuss two options for extending the reduction of oil production, reported RIA Novosti source in one of the delegations.
He said that the decision on the date of the next OPEC meeting is not yet adopted.
The price of Brent crude oil rose above $ 40 for the first time since March 6, when the collapse of quotations, according to the auction.
As 03.44 GMT the price of August futures for North sea oil mixture Brent grew by 1.14% to 40.08 USD per barrel. July futures on WTI as at 03.46 GMT rose in price on 1,96%, to NOK 37.53 per barrel.
World oil prices on Tuesday morning are rising in the hope of extending the existing limitations on oil production by OPEC , according to the auction.
As of 7.49 GMT the price of August futures for North sea petroleum mix of mark Brent has grown on 0,86% - to 38,65 dollars per barrel. July futures on WTI rose in price by 0.56% to 35.64 percent.
Prize of the Russian oil brand Urals to the price of North sea Brent reached a record for the entire history of observations since 1990: 2.3 per dollar in North-West Europe and 2.8 per dollar in southern Europe, according to international pricing Agency Argus.
"The price of "Urals" have reached record premiums to North sea benchmark in the history of the Argus monitoring since 1990. Support cost varieties had a significant reduction of production in Russia in terms of recovery of oil demand in the world market due to the weakening of quarantine measures," - said the Agency.
The average price of oil Urals, the basic goods of the Russian export in may increased by 70 percent compared to April, the Finance Ministry said.
The cost of raw materials made up of 31.03 per barrel.
The presidents of Russia and USA Vladimir Putin and Donald trump, discussed during a telephone conversation the oil market and the OPEC agreement , stated that it seeks to restore demand and stabilize prices, said the press service of the Kremlin.
"Reviewed the situation on the world oil market in the context of the implementation of the agreement of OPEC . It was noted that this multilateral agreement reached with the active support of the presidents of Russia and the United States, leads to a gradual recovery in oil demand and stabilize prices", - stated in the message.
OPEC is considering extending the existing cuts oil production for one to three months, according to the Agency Bloomberg with reference to one of the delegates to the upcoming June meeting of OPEC .
"OPEC will discuss the extension of the Treaty on the reduction of oil production", - stated in the message.
Duty on oil exports from Russia from June 1, increased by $ 1.5 the may level was the lowest since 2002, to 8.3 per ton, follows from the calculations of the Ministry of Finance.
The average price for Urals crude oil for the period from 15 April to 14 may amounted to 19.9 per dollar, compared with 19 per barrel in the previous monitoring period.
World oil prices on Friday morning fall after the publication of statistics about the unexpected growth of stocks of raw materials in the United States, according to the auction.
As at 7.43 MSK the price of August futures for North sea petroleum mix of mark Brent fell by 1.03% to 35,65 USD per barrel. July futures on WTI oil depreciated by 1.57% - to 33.18 per barrel.