Deal? What deal?
Russia is keen to coax Opec into a supply agreement, but is ramping up output in the meantime
Hell may have to freeze over before Russia follows through and cooperates with a proposed move by Opec members to limit oil production. President Vladimir Putin sent crude futures higher in mid-October when he claimed that a freeze in production "or even cut" was necessary to put supply and demand back in balance. His energy minister, Alexander Novak, has said the country is amenable to the idea of limiting production to support oil prices-and sat shoulder to shoulder with his Saudi counterpart in Algiers to say Russia would help out, once Opec had figured out its own deal. Back home, though, the mood is different. The country's oil producers are still going gangbusters-taking the country's
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way






