VIENNA OPEC and its Russia-led allies agreed on Friday to slash oil production by more than the market had expected despite pressure from U.S. President Donald Trump to reduce the price of crude. | Video
- von Rania El Gamal und Olesya Astakhova und Shadia Nasralla
VIENNA OPEC tentatively agreed to an oil output cut on Thursday but was waiting for a commitment from non-OPEC heavyweight Russia before deciding the exact volumes for a production reduction aimed at propping up crude prices, two sources from the group said. | Video
VIENNA OPEC and Russia moved closer on Wednesday to agreeing cuts in oil production from next year despite pressure from U.S. President Donald Trump to reduce the price of crude. | Video
VIENNA, Dec 5 Saudi Arabia is seeking to
persuade Russia on Wednesday to cut oil production substantially
with OPEC next year in an attempt to arrest a decline in the
price of crude and prevent another global glut.
LONDON/MOSCOW Russia is becoming increasingly convinced it needs to reduce oil output in tandem with OPEC but is still bargaining with the producer group's leader, Saudi Arabia, over the timing and volume of any reduction, two industry sources told Reuters.
MOSCOW Russia wants to stay out of any oil-production cuts being touted by some of its partners in an OPEC-led supply pact, two high-ranking Russian sources told Reuters. | Video
MOSCOW President Vladimir Putin said on Wednesday that Russia would be forced to target any European countries that agreed to host U.S. nuclear missiles following Washington's withdrawal from a landmark Cold war-era arms control treaty.
MOSCOW Russia's Rosneft and U.S. ExxonMobil plan to build a liquefied natural gas (LNG) plant in a consortium with Indian and Japanese partners, spreading the estimated $15 billion cost, two sources familiar with the talks said.