Very usefull links


News links




Dow Jones

Oil price



Views and News





OPEC and allies can consider returning up to 1.5 mln bpd to market gradually- Russia's Novak



By Reuters

Petroleumworld 06 15 2018

MOSCOW, June 14 (Reuters) - Members of the OPEC+ oil production cut deal can consider returning up to 1.5 million barrels of oil per day (bpd) to the market gradually, as one of the possible options, Russian Energy Minister Alexander Novak told reporters on Thursday.

Novak also said the gradual increase is possible from July 1, but the countries who joined the global oil production cut deal are yet to discuss all the terms. The OPEC and non-OPEC countries are meeting next week in Vienna.

He added he discussed the gradual exit from the deal with Saudi Energy Minister Khalid al-Falih, in Moscow for the World Cup opening. “We in general support this... but specifics we will discuss with the ministers in a week,” Novak said.


Twitter: @petroleumworld1

Hit your target - Advertise with Us

Reporting by Denis Pinchuk ; Writing by Katya Golubkova;Editing by Alexandra Hudson from Reuters. 06 14 2018

We invite all our readers to share with us
their views and comments about this article.
Write to

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to:

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1

November 19 -22, 2018.

Gubkin University, Moscow
SPE Student Chapter









Editor & Publisher:Elio Ohep/
Contact Email:

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.