Implementation of OPEC+ oil output cut agreements has led to stabilization of the world oil prices in the $60-70 per barrel range. In H2 2019, the oil prices pushed closer to the lower bound of this range. In December 2019, members of OPEC+ decided to cut further the oil production from January...

The oil output cut agreement between some OPEC and non-OPEC countries, including Russia, pushed global crude oil prices to USD 50–55 a barrel in the first few months of 2017. The oil output boost in the United States and in some other countries has become an increasingly greater challenge...

Amid raising global oil prices, crude oil production in Russia in 2018 hit an all-time high for the post-Soviet period. Under the first stage of tax maneuver in force in the oil industry, production and export of fuel oil moved down resulting in contraction of oil refining volumes but refining...

OPEC+ agreements aimed at cutting oil production have became a significant factor affecting world oil prices. Implementation of these agreements led to the rise of global oil prices to $60-70 per barrel. In early July OPEC+ decided to extend current restrictions on oil production for another...

Global oil marker is characterized by low oil prices resulting from an excessive supply over demand. Under the effect of low prices oil production on cost-intensive oilfields began falling, drastically decreased investments in the development of unconventional petroleum deposits including shale...

Global crude oil prices surged in 2017 on the back of the production-cut agreement between OPEC and a group of non-members including Russia. In January–November 2017, Russian crude oil was traded at an average of $52/bbl in the global market, adding $10 to the previous year's price. In late...

Russian crude oil gained 33.5% in value from the previous year, selling at an average of $70.9 per barrel in the period between January and November 2018. The increase stemmed from, among other things, a cooperative agreement to limit oil production, known as OPEC+. Global oil prices dropped...