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OPEC+ keeps more barrels off market in April
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
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The surprise decision to bring on extra supply has coincided with better quota conformity from laggards in the group, Petroleum Economist analysis shows
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The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
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The oil alliance’s decision to keep to the plan amid tightening economic fundamentals seems to have been lost in the global geopolitical maelstrom, misplaced market speculation and haze of conjecture
Hydrocarbon Processing Refining Databook 2025: Europe, Russia & CIS
EU net-zero polices have shifted refining investment among member states, while across the region countries and companies continue to adjust to changes in trade flows caused by the war in Ukraine
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The oilfield expansion provides a fresh influx of revenue but will strain its cooperation with OPEC+ and fails to mask deeper issues with the economy and investors
Azerbaijan looks to solve its midstream conundrum
The country wants to kickstart its upstream but first needs to persuade investors to foot the bill
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US goes after Russian gas money, part 2
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Russia Opec Kazakhstan Azerbaijan Rosneft Gazprom Nord Stream 2
23 January 2018
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Opec's new partner

Russian producers grudgingly adhered to the cuts and a stronger oil price helped perk up the economy

Russia made some unusual strides in its energy strategy in 2017. After agreeing to the supply pact with Opec at the end of 2016, it came good—surprising some—on its pledge to cut 300,000 barrels a day of output. Then, as the year moved on, its relationship with Saudi Arabia deepened further, becoming a broad investment and geopolitical alliance. The unorthodoxy wasn't to everyone's taste: many of Russia's own energy majors bristled at the Opec cuts, which forced them to shelve a number of greenfield projects in Siberia. By October, after the Saudi king's visit to Moscow and deals between the countries worth $3bn were agreed, it seemed the producers would have to get used to the new state of

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