Russian Deputy Energy Minister – Difficult to agree on oil output freeze

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Russia’s deputy energy minister Texler was on the wires stating it will be difficult to agree on oil output freeze, but stated it is necessary to support prices.

    Key Quotes

    Sees 900k bpd leaving market if freeze agreed

    No output cuts have been discussed

    No one wants oil prices to significantly rise as costly projects would return

    Oil companies in Russia not opposed to freezing output at Jan level

    A price of $35-40 will allow Russian oil sector to move forward

    Iran should be interested in freeze deal too as it will get higher prices for its oil

    Even if Iran does not join output freeze deal there will still be an effect
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