Alexander Novak

facebook_page
twitter_page

Last quote by Alexander Novak

As of today, (oil) supply is exceeding demand, and we see that global inventory is dropping, but to ensure a true market balance, it is required that the inventory drops down to the five-year average, and we are sure that it will happen in the next few quarters, probably, by the end of the first quarter of the next year.feedback
share this quote
Jun 12 2017 Qatar
Alexander Novak has been quoted 55 times. The one recent article where Alexander Novak has been quoted is Oil market likely to move into balance by 1Q 2018, says Russia energy minister. Most recently, Alexander Novak was quoted as having said, “Therefore, these shale production increases, we foresaw that. Today we have to monitor the situation, and analyze the current developments. In my opinion, the deal is highly effective, and as for shale production recovery, we have to monitor it.”.
Automatically powered by Storyzy
Take our quote verification challenge and find out !

Alexander Novak quotes

Mar 14 2017 - OPEC

They don't want $60 [oil] but firming the case for $50 makes sense for their key policy priorities. Are you going to pick keeping as much shale as you can on the sidelines? Or are you going to pick your key economic priorities? If it's sub $50, or $50, I think they roll this over.feedback

Mar 07 2017 - OPEC

We did not interfere in U.S. domestic politics and we prefer that every country be independent in resolving its domestic issues. This was indeed an historic event, I mean the agreement which was signed between OPEC and non-OPEC countries, it's the first time in history...in compliance with the agreement that was reached, we are going to achieve the 300,000 result at a fast pace.feedback

Mar 07 2017 - OPEC

I believe that currently we have a supply and demand balance, I mean for this winter period, but for the future we need to see how the situation will evolve in terms of the demand growth and how the production picture moves along in other countries, so we will need to assess the supply-demand balance and its dynamics.feedback

Mar 07 2017 - OPEC

Undoubtedly the joint action by many countries to achieve the balance and to reduce the output are aimed at giving stability to the market and as a result we see a great level of investment, lower volatility, prices stabilizing at a certain level, which does play out to move investment going into shale production so one needs to assess the overall supply and demand balance.feedback

Mar 07 2017

It's premature to talk about extending the agreement.feedback

Feb 01 2017 - OPEC

We are also noticing a significant decrease in speculative pressure to the prices.feedback

Feb 01 2017 - OPEC

Some countries have cut more than it was planned and are moving ahead of schedule. Russian oil production was down by 117,000 bpd in January.feedback

Jan 23 2017

Rex Tillerson is a very famous energy industry specialist and I am certain that his actions will be positive, as a whole, for the industry.feedback

Jan 23 2017

I think we can hope that relations will improve.feedback

Jan 23 2017

We believe that for the industry as a whole this is good because the energy sector should develop and the fact that a large country, the largest country in economic terms, such as the USA will be developing its energy is overall a positive thing for the whole of the energy sector.feedback

Jan 23 2017

Over many years Russia has advocated itself as a reliable supplier of energy resources and gas and I would even say has acted as a guaranteed supplier, when there was a break in supply from other countries, other suppliers of gas to Europe, Russia has always covered deficits that arise as a result of a lack of Europe's own resource supply. And for this Russia has the capacity, the reserves to supply gas. Therefore, we believe that the relations between the producers and consumers of energy resources have been reliable and we are ready to keep supporting them.feedback

Jan 23 2017

That is absolutely normal. That works for some with the availability of natural mineral resources.feedback

Dec 22 2016 - OPEC

If you look at where the biggest production cuts are coming from its largely about the Gulf states and Russia - this gives me even more comfort there will be material compliance. Russia invested a lot in securing agreement so you wouldn't expect them to fail to comply in the early stages. I think compliance is likely.feedback

Dec 16 2016 - OPEC

All companies agree to cut output.feedback

Dec 14 2016

The creation of a Russian-Iranian Islamic bank was discussed. Our banks are exploring the mechanism, the related decision has not been made yet.feedback

Dec 08 2016 - OPEC

Russia will gradually cut output in the first half of 2017 by up to 300,000 barrels per day, on a tight schedule as technical capabilities allow.feedback

Nov 30 2016 - OPEC

Russia is ready to join the agreement ... Based on our active talks over the last couple of months with key OPEC members and non-OPEC countries, Russia will gradually cut its output by up to 300,000 barrels per day in the first half of 2017.feedback

Nov 30 2016 - OPEC

We think such a meeting will take place within the next 10 days.feedback

Nov 30 2016 - OPEC

We are optimistic about the agreements reached and consider today's agreement as historically important.feedback

Nov 30 2016 - OPEC

Our talks with non-OPEC countries allow us to expect some countries to join the deal, cumulatively contributing approximately up to 300,000 bpd.feedback

Nov 24 2016

According to our plans, (Russia's) oil output is going up next year. If we keep production at the current level we are making our contribution, for us that essentially means a cut of 200,000-300,000 barrels per day (in 2017).feedback

Oct 21 2016

Yes, this is our main position, it has not changed.feedback

Oct 09 2016

The document is almost ready, only a few details are left. We expect that it will be signed within the framework of the World Energy Congress. We are talking about two segments (of the pipeline).feedback

Oct 09 2016

Talks about gas price have resumed, I hope the sides will come to a common position.feedback

Oct 09 2016

It is possible that by then Russia's Gazprom Export and Turkey's Botas will be able to resolve their disagreements related to the price of gas.feedback

Oct 09 2016 - OPEC

We are waiting for the proposals which OPEC will elaborate internally to meet target (production) levels and with which they will come out and approach non-OPEC nations.feedback

Sep 29 2016 - OPEC

There is still a number of details which OPEC countries must work out.feedback

Sep 26 2016 - Algeria

It is hard to tell, consultations are still under way.feedback

Sep 10 2016

The inter-governmental agreement and road map are currently being reconciled, the process of agreeing on the final text is underway. We plan to proceed to the signing in October.feedback

Sep 05 2016

We have agreed with Saudi Arabia energy minister on joint actions aimed at stabilising situation on the oil market. We consider a production freeze the most efficient tool, concrete parameters are being discussed at the moment.feedback

Aug 15 2016 - OPEC

We are cooperating in the framework of consultations regarding the oil market with OPEC countries and producers from outside the organisation, and are determined to continue dialogue to achieve market stability.feedback

May 29 2016 - OPEC

OPEC now is experiencing a crisis of internal differences. Despite this, I wouldn't write off this organisation.feedback

Apr 14 2016

Talk of a cut is far behind the scenes now. They can barely agree on the freeze.feedback

Jan 29 2016

We're ready to discuss the issue of cutting oil output volumes, but this isn't a decision.feedback

Jan 28 2016

This is a subject for discussions, it's too early to talk about it. We think it's reasonable to discuss the situation.feedback

Sep 26 2015

We reached an agreement of mutual obligations, which will guarantee supplies for the winter months and its safe transit through Ukrainian territory to our European consumers.feedback

Oct 31 2014 - Ukraine Crisis

On many matters, Russia has compromised on the price and the structuring of the debt. This is our contribution to the compromise to stabilise the situation in Ukraine so that the autumn and winter period is safe and the supply to European customers is stable.feedback

May 26 2014

Our side is prepared, when we receive the payments, to continue negotiations until Friday about prices for future supplies to the Ukrainian site.feedback

No quotes...
More Alexander Novak quotes
|< <
> >|

Quotes by Alexander Novak

<
Quote Verifier
verify-icon
Check if the quote you read on social networks is authentic
facebook_page
twitter_page
This webpage has been created by a robot: errors and absent quotes cannot be totally avoided
 
Feedback×

Quote :

Mistake :

Comments :