Russia’s Energy Minister: Output freeze talks to end by Mar 1
Novak said that the countries concerned, excluding Iran, already cover around 75% of global oil export volumes and added that such an output freeze deal would result in a decline of 1.3 million barrels per day (bpd) in global oil surplus.
Meanwhile, Russia’s first deputy energy minister Alexey Texler stated that Russia’s January production was 1.5% higher than the country’s annual average output in 2015. Data released by the International Energy Agency (IEA) showed that Russia’s oil output was reported at 10.9 million bpd in January.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?
- China’s rising PET trend takes a pause, but longer-term outlook remains firm
- Uptrend in China’s import PP market continues but cautious mood returns
- Hikes in Asia July PVC offers baffle some buyers, further rally under discussion
- Optimism is rising on resurgent demand in European polymer markets