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Brent rebounds towards $80 as OPEC rhetoric heats up LONDON: Brent crude oil reversed early losses to rise back towards $80 a barrel on Tuesday, recovering from last week's four-year low as speculation increased that OPEC could cut output at its meeting on Nov. 27.Talk about OPEC's response to a 30 percent drop in global oil prices since late-June intensified this week after calls from Venezuela to increase cooperation within the cartel as well as with non-members, including top producer Russia.A special global meeting is being planned "very soon", Venezuelan President Nicolas Maduro said on Monday. The head of Russia's state-backed oil giant Rosneft will fly to Vienna on Nov. 25, just two days before OPEC members meet in the city."We are getting closer to 50:50 on whether there is going to be an OPEC cut or not," said Michael Poulsen, an oil analyst at A/S Global Risk Management in Copenhagen"The travel itineraries of several of the members suggests ...
Brent falls near $79 as rhetoric heats up before OPEC meeting LONDON: Brent crude slipped towards $79 a barrel on Tuesday, falling for the sixth session out of seven, as oil prices struggled to find a floor ahead of next week's critical OPEC meeting. Speculation about OPEC's response to a 30 percent drop in global oil prices since late-June intensified after calls from Venezuela to increase cooperation within the cartel as well as with non-members, including top producer Russia.A special global meeting is being planned "very ...
Ukraine may make prepayment for Russian gas before Dec 1 KIEV: Ukrainian Energy Minister Yuri Prodan said on Tuesday Ukraine may make a pre-payment to Russia for gas before Dec. 1, reiterating that the country expected to buy up to 1.5 billion cubic metres (bcm) of gas from Russia by the end of the year."Purchases will start once the cold sets in. It's possible we'll start (pre-payments) before Dec. 1 ... the situation is not yet critical," Prodan told journalists.Copyright Reuters, 2014 ...
Brent rises towards $80 as rhetoric heats up before OPEC meeting LONDON: Brent crude reversed early losses to rise back towards $80 a barrel on Tuesday, recovering from a four-year low hit last week as oil prices tried to find a floor ahead of next week's critical OPEC meeting. Speculation about OPEC's response to a 30 percent drop in global oil prices since late-June intensified after calls from Venezuela to increase cooperation within the cartel as well as with non-members, including top producer Russia. A special ...
Ukraine gas reserves down 8.4pc since start of heating season KIEV: The volume of gas kept in Ukrainian underground gas storages has fallen by around 8.4 percent since Kiev started pumping gas on Oct. 20 for heating in colder weather, state-run gas transport monopoly Ukrtransgaz said on Monday.The company's spokesman said there were 15.35 billion cubic meters (bcm) of gas in storages as of Nov. 15 compared with 16.75 bcm as of Oct. 20.Ukraine, which covers half of its annual needs by importing Russian gas, ...