• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 2 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 9 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 3 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 10 hours "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 14 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 9 hours An Indian Opinion on What is Going on in China
  • 2 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 15 hours Can Technology Keep Coal Plants Alive and Well?
  • 2 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 3 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done!
  • 8 hours U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 12 hours Storage of gas cylinders
  • 4 days Nord Stream - US/German consultations
Libya's Election Is All About Oil Money

Libya's Election Is All About Oil Money

The looming election in Libya…

IEA: Energy Crisis Threatens Economic Recovery

IEA: Energy Crisis Threatens Economic Recovery

The energy crisis that has…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

COVID-19 Positive Russian Oil Minister Will Join OPEC+ Meeting

Russia’s Energy Minister Alexander Novak will take part in the virtual meeting of the OPEC+ monitoring panel on Wednesday, despite testing positive for COVID-19, Russia’s energy ministry said on Tuesday.   

Earlier on Tuesday, Russian Prime Minister Mikhail Mishustin said that Novak had tested positive for the coronavirus while he was on a visit to Russia’s Far East. Novak returned to Moscow and will work remotely, the ministry said.

Novak feels good and doesn’t have any symptoms, and he plans to take part in the OPEC+ panel’s meeting on August 19 via video conference, a representative of the Russian energy ministry told Russian outlet RBC.

Prime Minister Mishustin and Vladimir Putin’s Press Secretary Dmitry Peskov have recovered from COVID-19 after contracting the virus earlier this year.

The Joint Ministerial Monitoring Committee (JMMC) holds meetings every month until the end of 2020, instead of ahead of every full OPEC+ meeting only, because of the volatile oil market and the highly uncertain trajectory of global demand recovery.

The JMMC is meeting this week, but it will not discuss any revisions of the ongoing production cut pact and is not expected to make any major decisions to tweak the deal, Novak said last week.

The OPEC+ coalition saw its compliance rate with the oil production cuts at 95 percent in July, four sources from the group told Reuters on Monday, which is a level similar to the previous month, if the additional one-month voluntary cuts from Saudi Arabia, the UAE, and Kuwait for June are excluded.

At last month’s panel meetings in mid-July, the JMMC noted an improved compliance rate with the cuts. The overall compliance rate for the OPEC+ group was a record-breaking 107 percent in June, but it was due to the additional voluntary contributions from Saudi Arabia, the United Arab Emirates, and Kuwait, which cut a total of 1 million bpd in June on top of their shares of the cuts. Without those three voluntary outperformers, the OPEC+ group’s compliance was 95 percent in June, which still was the highest since the cuts started in January 2017.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News