Russia open to meeting with major oil-producing countries

ABU DHABI, United Arab Emirates -- Russia says it is open to a meeting with fellow major oil-producing nations to discuss production levels amid a plunge in global oil prices.

See Full Article

Foreign Minister Sergey Lavrov told reporters in the United Arab Emirates on Tuesday that Moscow is "open for other forms of co-operation, if there is general interest in holding a meeting between OPEC members and producer countries."

Russia is not a member of the Organization of the Petroleum Exporting Countries.

Last month, the price of oil fell below $30 a barrel, causing the ruble to plunge to record lows.

Russia's Energy Minister Alexander Novak last week said there were efforts to convene talks among top exporters, though the Kremlin has said there are no concrete plans to cut oil output in co-ordination with OPEC members.



Advertisements

Latest Economic News

  • U.S. economic growth weakened to 0.7 per cent in first quarter

    Economic CBC News
    The U.S. economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result underscores the challenge facing President Donald Trump in achieving his ambitious economic growth targets. Source
  • Trump tower fated not to rise in Indonesian isle of the gods

    Economic CTV News
    TANAH LOT, Indonesia -- Thousands of people flock daily to the centuries-old, sacred Hindu temple at Tanah Lot, a rock formation that juts into the Indian Ocean. An island at high tide and flanked by sheer cliffs, it's among Bali's most photographed sites, particularly for the mesmerizing sunsets that transform the waters into a shimmering orange vista. Source
  • Exxon's 1Q profit more than doubles on higher oil prices

    Economic CTV News
    IRVING, Texas -- Exxon more than doubled its profit in the first quarter as rising crude prices magnified the cost cuts made by the company as energy prices tumbled. The Irving, Texas, company earned $4.01 billion, or 95 cents per share, for the three month period, up from $1.81 billion, or 43 cents per share, a year earlier. Source
  • Imperial Oil reports $333M Q1 earnings, raises dividend to 16 cents

    Economic CTV News
    CALGARY - Imperial Oil (TSX:IMO) is reporting first-quarter earnings that reversed a loss in the same period of last year but fell short of analyst expectations. The Calgary-based oil producer and refiner says net income was $333 million or 39 cents per share in the three months ended March 31, boosted by a gain of $151 million on the sale of former refinery lands in Mississauga, Ont. Source
  • Home Capital director quits, citing potential conflict

    Economic CTV News
    TORONTO -- The chief executive of HOOPP has resigned as a director of Home Capital Group and its subsidiaries, citing a potential conflict of interest following the pension fund's decision to provide $2 billion of credit to the mortgage company. Source
  • German airlines to scrap requirement for 2 people in cockpit

    Economic CTV News
    BERLIN -- Germany's aviation association says the country's airlines have decide to scrap rules requiring two people in the cockpit at the same time, implemented after a Germanwings pilot is believed to have crashed his own plane in France two years ago. Source
  • Apple cuts off payments, Qualcomm slashes expectations

    Economic CTV News
    NEW YORK -- Qualcomm slashed its profit expectations Friday by as much as a third after saying that Apple is refusing to pay royalties on technology used in the iPhone. Its shares hit a low for 2017. Source
  • Canadian GDP flat in February after hot start to 2017

    Economic CTV News
    OTTAWA - Canadian economic growth took a pause in February after the break-neck pace seen at the start the year. Statistics Canada says gross domestic product was unchanged in February. The result matched the expectations of economists, according to Thomson Reuters. Source
  • Trump seeks to expand offshore drilling

    Economic CTV News
    WASHINGTON -- Working to dismantle his predecessor's environmental legacy, U.S. President Donald Trump plans to sign an executive order Friday that could lead to the expansion of drilling in the Arctic and Atlantic oceans. With one day left to rack up accomplishments before he reaches his 100th day in office, Trump will order his interior secretary to review an Obama-era plan that dictates which locations are open to offshore drilling, with the goal of the new administration to expand…
  • Trump signs order to expand ocean oil drilling

    Economic CTV News
    U.S. President Donald Trump has signed an executive order that will roll back restrictions on oil drilling in the Arctic. Trump says at a White House signing ceremony, "Today, we're unleashing American energy and clearing the way for thousands and thousands of high-paying energy jobs. Source