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Oil’s fall bad for Russia, could be a concern to Fed

The dramatic drop in oil prices has prompted some worried musings among economists. Maybe it’s some kind of pessimistic reflex in the dismal science of economics. Or maybe it’s the uneasy feeling that anything really bad for both Texas and Russia is potential trouble. Maybe it’s bad dreams about the last recession. In any event, despite the huge windfall being ...

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Oil plunge a panacea for much of world economy

A renewed plunge in oil prices is a worrying sign of weakness in the global economy that could shake governments dependent on oil revenues. Yet it is also a bonus for consumers as prices fall at the pump, giving individuals more spending money and lowering costs for many businesses. The latest slide was triggered by OPEC’s decision this week to ...

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Russia has no plan to cut oil output


MOSCOW, Nov 22 – Russia, the world’s biggest energy exporter, does not plan to cut oil production to shore up prices, Rossiya 24 television quoted Energy Minister Alexander Novak as saying on Saturday. Russia, which relies on oil and gas exports for about half its federal budget, has been hit this year by a fall in global oil prices as ...

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Putin’s oil tsar Sechin flying to Vienna as OPEC meets


MOSCOW, Nov 17 – Top Russian oil producer Rosneft said Chief Executive Igor Sechin would fly to Vienna on Nov. 25 for an energy market conference, just two days before OPEC meets in the city to debate the plunge in oil prices. The state-backed company declined further comment on Monday, but the surprise announcement raised speculation in oil markets that ...

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Russian bomber patrols to reach Gulf of Mexico

MOSCOW — Russia’s long-range bombers will range from the Arctic Ocean to the Caribbean and the Gulf of Mexico on regular patrol missions, the military said Wednesday, a show of muscle reflecting tensions with the West over Ukraine. A statement from Defense Minister Sergei Shoigu s statement comes as NATO has reported a spike in Russian military flights over the ...

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Putin says gas transit to Europe via Ukraine still problematic


MOSCOW, Oct 15 – Russian natural gas transit through Ukraine to Europe is still problematic and alternative supply routes, such as the planned South Stream pipeline, should be used to solve the issue, President Vladimir Putin said in an interview. Moscow halted gas supplies to Ukraine in June over unpaid debts and pricing disagreement. This has sparked concerns about the ...

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EU slaps new economic sanctions on Russia

Juergen Baetz | The Associated Press BRUSSELS — The European Union has decided to slap new economic sanctions on Russia — including ones targeting the country’s vital oil industry — for what it sees as Moscow’s meddling in eastern Ukraine. The sanctions will further curb access to European capital markets for Russian banks and firms, limit exports of certain high-technology ...

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Rosneft struggles to grow as sanctions hit Russia’s oil champion

Dmitry Zhdannikov, Vladimir Soldatkin and Katya Golubkova | Reuters LONDON/MOSCOW – The Kremlin’s prized oil firm Rosneft is cutting staff and production and selling stakes in Siberian fields in the strongest evidence to date that Western sanctions are hurting what was the world’s fastest growing oil firm in recent years. The sanctions imposed on Russia by the United States and ...

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