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Friday, 23 September 2016

Putin opens production at new Russian oilfield as output touches record high | Reuters

Putin opens production at new Russian oilfield as output touches record high | Reuters:

"President Vladimir Putin officially launched production at a new oil field on Wednesday, a day after Russia's output touched a record high even as Moscow prepared to join talks aimed at supporting prices.

OPEC and non-member producers including Russia will meet next week to discuss a potential deal to stabilize the market by at least freezing output in efforts to contain a supply glut that triggered a price collapse two years ago.

But OPEC producers Saudi Arabia, Iraq and Iran have pushed output to record highs this year in a bid to gain market share despite low prices."



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