Russian oil production decreased for the first time in 10 years according to Vedomosti, a Russian newspaper. The decrease was only 0.7%, while exports were reduced more dramatically year over year, down 6.2%.
Posts Tagged ‘Russia’
Putin: no more cheap gas
ussia’s Prime Minister Vladimir Putin said Tuesday that the world financial crisis and rising costs mean the price of natural gas is going to rise.
The New Oil Cycle
As of yesterday’s close on the New York Mercantile Exchange, the price of crude oil has fallen 50% from its July high-water mark. The membership of OPEC must be experiencing an uncomfortable sense of déjà vu, recalling a similar drop between August 1997 and December 1998…
