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Russia's Deputy Prime Minister, Alexander Novak, has stated that the government has no plans to raise taxes for oil companies. Novak also mentioned that Russia is prepared to increase oil product shipments to Saudi Arabia. Saudi Energy Minister, Prince Abdulaziz, proposed a meeting with Novak in November. President Putin emphasized the important role played by Saudi Arabia's Crown Prince in the energy market and expressed the intention to continue cooperation. Putin also stated that the OPEC+ deal is likely to continue. Novak clarified that Russia and Saudi Arabia have not discussed a scenario of actions within OPEC+ in case of further escalation in the Middle East. Both Novak and Abdulaziz highlighted the importance of bringing stability to the oil market. Novak believes that OPEC+ cooperation ensures market stability and investments, while Abdulaziz emphasized the need for less volatility on the global oil market. Novak mentioned that the global market is balanced but fragile, and global oil demand is expected to increase by 2.4 million barrels per day this year. However, the global economy is growing slower than expected. Novak also mentioned that Russia has decreased exports of both oil and oil products. The International Energy Agency reported that Russia's total oil exports in September rose by 460,000 barrels per day to 7.6 million barrels per day, with crude oil accounting for 250,000 barrels per day of the increase. Novak further revealed that Russian gas supplies to Europe have fallen by around two-thirds. Lastly, Novak stated that restrictions on fuel exports will be further eased if necessary.
🔴 RUSSIA’S DEPUTY PM NOVAK: RUSSIAN GAS SUPPLIES TO EUROPE FELL BY AROUND TWO-THIRDS.
🔴 RUSSIA’S DEPUTY PM NOVAK: RESTRICTIONS ON FUEL EXPORTS WILL BE FURTHER EASED IF NECESSARY.
Novak: Russia's oil exports cuts include oil products, media report https://t.co/tzSL5ipuHz https://t.co/ZBWXa4OGxf
Saudi energy minister: we need to be proactive on oil market https://t.co/TML06huDBh https://t.co/z6YihbyRl5
🔴 RUSSIA’S DEPUTY PM NOVAK: RUSSIA DECREASES EXPORTS BOTH OF OIL AND OIL PRODUCTS - INTERFAX.
🛢️ RUSSIA'S NOVAK: RUSSIA DECREASES EXPORTS BOTH OF OIL AND OIL PRODUCTS - INTERFAX
🔴 IEA: RUSSIA’S TOTAL OIL EXPORTS IN SEPT ROSE BY 460,000 BPD TO 7.6 MBPD WITH CRUDE OIL ACCOUNTING FOR 250,000 BPD OF THE INCREASE.
“This market cannot be left unattended, we need to take all precautionary measures,” #SaudiArabia Energy Minister Prince Abdulaziz bin Salman said, comparing the global #oil situation to a yo-yo toy, given the recent rise and fall in prices. https://t.co/fGc9hK7eJ8
🔴 RUSSIA’S DEPUTY PM NOVAK: GLOBAL OIL DEMAND WILL INCREASE BY BY 2.4 MLN BPD THIS YEAR.
🔴 RUSSIA’S DEPUTY PM NOVAK ON OIL PRICES BY YEARS END: THE MARKET SETS PRICES ITSELF.
🔴 RUSSIA’S DEPUTY PM NOVAK: OPEC+ COOPERATION ENSURES THE STABILITY OF THE OIL MARKET AND INVESTMENTS.
🔴 SAUDI ARABIA ENERGY MINISTER: WE WANT TO BRING STABILITY TO THE OIL MARKET.
🔴 RUSSIA’S DEPUTY PM NOVAK: THE GLOBAL ECONOMY IS GROWING SLOWER THAN EXPECTED.
🔴 RUSSIA’S DEPUTY PM NOVAK: THE GLOBAL MARKET IS BALANCED BUT THE BALANCE IS FRAGILE.
🔴 RUSSIA’S DEPUTY PM NOVAK: THE MARKET IS VERY SENSITIVE, BUT BALANCED.
🔴 SAUDI ARABIA ENERGY MINISTER: THE OIL MARKET SHOULD NOT BE LEFT ALONE, WE SHOULD BE PROACTIVE GIVEN NUMEROUS CHALLENGES.
🔴 SAUDI ARABIA ENERGY MINISTER: WE LIVE THROUGH THE UNCERTAINTY, WE NEED TO BE CAUTIOUS.
🔴 SAUDI ENERGY MINISTER ABDULAZIZ: THE LESS VOLATILITY THERE IS ON THE GLOBAL OIL MARKET, THE LESS WE WILL INTERFERE.
🔴 RUSSIA’S DEPUTY PM NOVAK: RUSSIA AND SAUDI ARABIA HAVE NOT DISCUSSED A SCENARIO OF ACTIONS WITHIN OPEC+ IN CASE OF FURTHER ESCALATION IN THE MIDDLE EAST - IFAX.
🔴 SAUDI ENERGY MINISTER ABDULAZIZ PROPOSES NEXT MEETING WITH RUSSIA’S DEPUTY PM NOVAK IN NOVEMBER.
🛢️ PUTIN: OPEC+ DEAL WILL LIKELY CONTINUE #oott
🔴 PUTIN: SAUDI ARABIA'S CROWN PRINCE PLAYS A BIG ROLE ON THE ENERGY MARKET, WE WILL CONTINUE COOPERATION.
🔴 RUSSIA’S DEPUTY PM NOVAK: RUSSIA IS READY TO RAISE OIL PRODUCT SHIPMENTS TO SAUDI ARABIA - TASS.
🔴 RUSSIA’S DEPUTY PM NOVAK: THE GOVERNMENT IS NOT PLANNING TO RAISE TAXES FOR OIL COMPANIES - RIA.