Search: OPEC,Russia (11 materials)


Good News From the Parallel Energy Sector

... then was the quarantine, too) and a package about the conversion (or rather not so much of a conversion) of the OPEC + into an OPEC ++. Of course, there is a still a long way to go before the names of the members of the Saudi royal dynasty are referred ... ..., energy gurus, of course, actively participated in the survey after the events in Vienna (by the way, nobody pushed the non-Russian experts to talk his way, but they’ve made a couple of revealing comments regarding the true role played by the Saudis)....


Can Russia, Saudi Arabia Strike New OPEC+ Deal with US Help?

As the OPEC+ deal has expired, Russia and Saudi Arabia remain at odds, though the United States offered encouraging words that production cuts might be negotiated The Russian-Saudi feud over oil production has destabilized the market even as the industry faces anemic demand and the ...


Why Russia Must Pressure Libya to Reduce its Oil Production

On July 23, 2017, Russia’s Energy Minister Alexander Novak told the Financial Times that Libya should join the oil supply production cut agreement brokered by Moscow and OPEC last December. Russia’s decision to target Libya, alongside Nigeria and US shale gas, surprised some observers, as Moscow retains tight links to military chieftain Khalifa Haftar, who holds de facto control over many of Libya’s oil-producing eastern regions and ...


Is Oil-And-Gas Friendship Possible Between Russia and Saudi Arabia?

... countries both need oil dollars, investments and new technology. Second and perhaps more importantly, gone are the days when OPEC could influence the oil prices to any significant extent, either single-handedly or in concert with other exporters. Even if OPEC and Russia now go with the output freeze, the possibility of this being very low, the impact on the market will be minimal. If crude prices rise above $50 to $60, this will put US shale oil back on the agenda, resulting in another price drop. Shale oil production ...


Russian and GCC Perspectives: OPEC, Russia, and falling oil prices

... Cooperation Council (GCC) producers agreed to freeze production with Russia, giving oil prices a boost . (The attempt was shortly-lived as Iran quickly declared that it had no intention of freezing its output.) However, there remain several barriers to any OPEC-Russia or GCC-Russia cooperation on oil production. First, Russia is perceived to be untrustworthy. (Whether or not it is actually untrustworthy is of second-order importance—perceptions are what dictate decisions.) In terms of oil, Saudi Arabia ...


When You Just Can’t Say “Yes”. Are Oil Prices Likely to Go Up?

... However, there are several signs that it is too early to expect a substantial price rise. First, it has to be noted that on January 11, 2016 (production is expected to be frozen at the level reached during this period), production hit an all-time high : Russia was producing 10.9 million barrels a day; Saudi Arabia 10.091 million barrels; and OPEC 32.3 million barrels, far in excess of its quota. So, even if the agreement comes into force, no serious price growth should be expected, and there will still be an oil glut in the market. Even if the agreement comes into force, no serious price ...


Does the World Need More Oil?

... rapidly growing economies, and therefore they see no reason to revise their policy. Hence, the next OPEC meeting and, accordingly, any major changes in the oil market, should not be expected before the end of October. Factor 4: Russia’s policy , Russia has stepped up oil exports even faster than OPEC: in the first six months of the year it increased exports by almost 10 percent and ranks top in in the production of this type of fuel. It is obvious that Russia had to follow the general trend of increasing oil production. In this environment, ...


Why Are Oil Prices Falling, And Should Russia Rely on OPEC?

... in 2015. REUTERS/Leonhard Foeger In any case, it would suit the bureaucracy of OPEC. When the organisation’s status is inflated it benefits those who work for it. But this will only have an impact if other oil producers that are not part of OPEC, for example Russia, also reduce their output. The author understands that Rosneft’s chief Igor Sechin was discussing such an idea with his foreign colleagues in the run-up to the meeting of the cartel. Russia’s Energy Minister Alexander Novak mentioned ...


OPEC Decision to Cause Oil Shock for Russia

The OPEC refusal to decrease oil production and a subsequent price fall to a 4-year low make the future of Russian economy tenuous. Since July 2014, the Russian ruble depreciated to the U.S. dollar by 45%, and the economic growth stalled. Falling oil prices together with western sanctions induce Russian experts to seek alternative sources to fill the budget....


A Hazardous Game – The Strait of Malacca

... 'locking-up' resources nor that they are immoral (as it is trendy to bicker online), as in reality they have little choice and China anxiously needs oil as the memory of early 2000s energy famish is still fresh. Basically, China cannot trade with OPEC smoothly as it does not give special treatment via some sort of guaranteed quotas and rivalry is fierce from traditional majors who have cemented their place over the past century. Moreover, Russia opposes equity investment and it is not corrupt to an extent that it sells major assets, nor can China engage Europe or USA as that is a political minefield. If we recall in 2005 CNOOC tried to buy USA’s Unocal, but it failed spectacularly,...


Poll conducted

  1. In your opinion, what are the US long-term goals for Russia?
    U.S. wants to establish partnership relations with Russia on condition that it meets the U.S. requirements  
     33 (31%)
    U.S. wants to deter Russia’s military and political activity  
     30 (28%)
    U.S. wants to dissolve Russia  
     24 (22%)
    U.S. wants to establish alliance relations with Russia under the US conditions to rival China  
     21 (19%)
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