Tag Archives: russia

The Russian Central Bank cut its key interest rate to a record low of 4.25% on Friday and stated that it would consider the need for further monetary easing amid low inflation and a shrinking economy.  The 25bp cut was in line with the Reuters poll, with expectations to cut …

The Russian gross domestic product (GDP) declined by 4.2% in the first half (H1) of 2020, according to Russia’s Minister of Economy, Maxim Reshetnikov. The ministry reportedly expects the economy to retreat by 4.8% in 2020 and expects the recovery to the pre-COVID-19 levels to take place by the fourth …

Russia is expecting a strong recovery in the global demand for oil, according to the Russian Minister of Energy, Alexander Novak, Reuters reported. The minister said on Thursday that a significant rise in August could see demand improve to 10% below the pre-COVID-19 levels. Demand was nearing 100 million barrels …

Russia has no plans to hold any talks with Saudi Arabia at the present time before OPEC+ ministerial monitoring committee meeting next week’s. Market reaction Oil prices ignored that news and WTI crude was trading at the time of writing at $ 40.75, losing 0.25% on a daily basis. Brent …

Russia’s Energy Minister Alexander Novak said on Thursday that the global oil market may strike a balance between supply and demand and may face a shortage of crude. Citing Reuters. He added that investments in the global energy sector will decrease by one third this year, noting that recovery in …

Russian oil and gas condensate production fell to 9.32 million barrels per day (bpd) in June from 9.39 million bpd in May, near its target under a deal with the OPEC+ group, Interfax news agency reported on Thursday, citing energy ministry data. The production of oil and gas condensate per …