A potential Ukraine ceasefire and the associated easing in sanctions on Russia are unlikely to substantially increase Russia's oil flows, Goldman Sachs said on Wednesday.
U.S. President Donald Trump's administration said on Tuesday it had agreed to hold more talks with Russia on ending the war in Ukraine.
"We believe that Russia crude oil production is constrained by its OPEC+ 9.0 million barrels per day (mbpd) production target rather than current sanctions, which are affecting the destination but not the volume of oil exports," Goldman Sachs said.
OPEC+, a grouping of the Organization of the Petroleum Exporting Countries along with Russia and other allies, pumps about half the world's oil.
The bank assumes that OPEC+ is likely to postpone its planned gradual ramp-up in oil production to July this year from April, on increased compliance with OPEC+ targets by Russia and several other OPEC+ producers, as well as continued uncertainty surrounding U.S. policy.
OPEC+ pushed the plan to begin raising output to April, extending its latest layer of cuts through the first quarter of 2025 in December due to weak demand and rising supply outside the group.
On Monday, Russia's RIA state news agency reported Russian Deputy Prime Minister Alexander Novak saying that OPEC+ producers were not considering further delays in the monthly oil supply increases.
Russia, as one of the world's top oil suppliers, holds substantial sway over global oil markets and prices.
Goldman Sachs continues to expect potential recoveries in positioning and valuation to nudge Brent up to $79 per barrel later this month.
Brent crude prices were trading at about $76 a barrel as of 0537 GMT on Wednesday.
Finland is ramping up security along its eastern border, warning of a potential Russian troop buildup once the war in Ukraine ends. The development comes as Helsinki continues to bolster its border security with a new fence aimed at deterring hybrid threats.
Russia has voiced serious concern over the U.S. Golden Dome defense initiative, a $175 billion project aimed at countering threats from China and Russia.
The Kremlin, asked on Thursday about a planned prisoner of war swap with Ukraine of 1,000 captives each, said that work was underway, and that each side wants to complete the exchange as quickly as possible.
Polish authorities are investigating whether explosive devices were planted near a critical undersea power cable linking Poland and Sweden, following suspicious activity by a Russian “shadow fleet” vessel in the area, Prime Minister Donald Tusk said on Thursday.
Iran’s parliament on Wednesday ratified a 20-year strategic cooperation agreement with Russia, a move that signals deeper military and economic alignment between the two countries.
The suspect in the fatal shooting of two Israeli embassy aides in Washington has been charged with first-degree murder, the U.S. Justice Department confirmed.
Israeli Prime Minister Benjamin Netanyahu has condemned the fatal shooting of two embassy staffers in Washington as a vile act of antisemitic violence, intensifying fears of growing hostility toward Israelis abroad amid mounting global tensions.
G7 finance leaders meeting in Canada pledged to tackle global imbalances and suggested tougher sanctions on Russia, while also taking aim at unfair economic practices widely attributed to China.
A tragic plane crash early Thursday morning shook a quiet residential neighborhood in San Diego, California. According to officials, there are two dead, eight injured.
Israeli airstrike hits Toul building in southern Lebanon after evacuation warning, amid ongoing tensions with Hezbollah.
Tensions flare in the India-France Rafale deal as France refuses to share the fighter jet’s source code, limiting India’s ability to integrate indigenous weapons and reducing its combat autonomy.
France has rejected India’s request to share source codes needed to integrate indigenous weapons into Rafale fighter jets. Despite repeated appeals, French manufacturer Dassault Aviation has refused to compromise on the issue
AnewZ and Kazakhstan’s Jibek Joly/Silk Way TV channel co-hosted a special AnewZ Talks in Astana at Maqsut Narikbayev University (MNU), uniting global experts and young leaders at Silk Road Media Group’s journalism school to explore the growing intersection of media and diplomacy.
Anton Kobyakov, adviser to Russian President Vladimir Putin, claimed at the St. Petersburg International Legal Forum that the USSR’s dissolution was legally invalid and that the Soviet Union still exists under constitutional law, framing the Ukraine war as an “internal process.”
The Tehran Dialogue Forum 2025, scheduled for May 18–19, will host 200 international guests, including 40 current and former European officials.
The 7th Ethnosport Culture Festival kicked off in Istanbul with Azerbaijan’s 100-member team and famed Karabakh horses drawing major attention.
The second meeting of customs leaders from Central Asia and China was held in Almaty, focusing on digitalization, AI integration, border crossing agreements, and expanding cooperation to strengthen regional trade and logistics.
Azerbaijan’s Minister of Economy Mikayil Jabbarov has been appointed Chairman of the Board of Governors of the Islamic Development Bank Group, with the 2026 Annual Meeting set to take place in Azerbaijan.
During President Shavkat Mirziyoyev’s official visit to Slovenia, Uzbekistan and Slovenia signed several important agreements covering visa exemptions for diplomats, education, transport, smart cities, water management, and tourism to enhance bilateral cooperation.
Islamic finance assets in Central Asia are forecast to grow from $285 million in 2022 to $6.3 billion by 2033, with Kazakhstan and Uzbekistan leading the regional expansion due to high demand, population growth, and policy reforms.
The suspect in the fatal shooting of two Israeli embassy aides in Washington has been charged with first-degree murder, the U.S. Justice Department confirmed.
Israeli Prime Minister Benjamin Netanyahu has condemned the fatal shooting of two embassy staffers in Washington as a vile act of antisemitic violence, intensifying fears of growing hostility toward Israelis abroad amid mounting global tensions.
G7 finance leaders meeting in Canada pledged to tackle global imbalances and suggested tougher sanctions on Russia, while also taking aim at unfair economic practices widely attributed to China.
A tragic plane crash early Thursday morning shook a quiet residential neighborhood in San Diego, California. According to officials, there are two dead, eight injured.
Israeli airstrike hits Toul building in southern Lebanon after evacuation warning, amid ongoing tensions with Hezbollah.
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