Search: Oil,OPEC,Russia (9 materials)

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

... President Donald Trump, perhaps prematurely, announced via Twitter that Saudi Arabia and Russia appeared ready to compromise on production cutbacks. But some analysts warned that the Saudis seemed " much more measured " in their statements. Russia has withdrawn from the OPEC+ deal among oil-producing nations to cut production and regulate the market, and Saudi Arabia announced earlier this week it would increase its oil output. The breakup not only sent the market into a spin, but it also triggered a controversial reaction in Russia....

03.04.2020

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 ...

07.08.2017

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

... audiences. The idea might be to put the former on high alert over the possibility of a new alliance, while reassuring the latter that their respective countries have important new partners. We may, therefore, assume that the recent intensification of Russian-Saudi energy dialogue is nothing more than a forced temporary friendship. 1 . OPEC Monthly Oil Market Report – November 2016 , pp 44, 57.

14.11.2016

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

... inclination of participating countries to view the agreement on the production freeze as non-binding, or the refusal of all to agree on the same time periods, etc.) The US Shale Oil Revolution as a Factor Notwithstanding all above-discussed possibilities of Russia and OPEC to influence the oil price in ways advantageous to them, analysts point to risk factors possibly undermining the future appreciation of the oil price. Even though oil prices have possibly already reached, or will soon reach, their floor, it is obvious that a price in ...

26.04.2016

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

... 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 growth should be expected, and there will still ...

15.03.2016

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, ...

15.09.2015

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

... least declare its intention to do so 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 ...

04.12.2014

A Hazardous Game – The Strait of Malacca

... 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 ...

08.10.2013

Who Governs Global Oil Prices?

... could it as it holds relatively minor amount of global oil reserves – which are depleting quickly. Russia may have emerged from the ashes of USSR, but it was far from a Phoenix as during 4-5 stages it once again had little sway – obviously Russia makes the most oil in the world, occasionally swapping places with Saudi Arabia for the top branch, but the Saudis wield OPEC which allows them to work more or less as a unit. In a way the situation has worsened as during the 1-3 stages oil markets were undeveloped, so being a price-taker still gave time to catch up, now the mature market has less scope for revolutionary ...

13.09.2013

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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