Search: OPEC (12 materials)


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 ...


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

... possible and 2) whether it is worth trying to influence the oil market. The answers to both questions will lead one to take a sceptical view of the prospects for a Russian-Saudi energy partnership. To begin with, the possibility of Russia working with OPEC as a whole is fairly low, since that organisation is beset by internal dissent. The primary line of confrontation lies between Saudi Arabia's position, advocating a freeze on oil production, and the plans by Iran and Iraq to increase output. It was ...


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

... significant concern among major oil exporters, among the Russia and the countries of the Gulf Cooperation Council (GCC; Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE). There have been significant calls for cooperation between the GCC states, other OPEC members, and Russia, with the goal of stabilizing oil prices. Whether or not a substantive agreement emerges remains to be seen. One of the biggest challenges faced by the oil exporters is the issue of building trust in a market that is currently ...


All By Yourself

... cancelled by Riyadh, despite months of consultations that preceded the talks. From a formal point of view, Saudi Arabia did not act unilaterally ― it was joined by Qatar, the United Arab Emirates and Kuwait. And still, the Doha summit revived the OPEC cooperation mechanisms, where the undisputed leader (Saudi Arabia) imposes its will on the other Persian Gulf states and refuses to coordinate its moves with the other members of the oil club. Iran, which skipped the talks, became the stumbling block....


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

..., 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?

... of energy. This anxiety has chiefly been caused by the numerous unexpected events in July and August, which saw the lifting of sanctions against Iran, disappointment in the pace of growth in the Chinese economy, the situation in the Middle East, and OPEC member countries’ policy. Meanwhile, the oil price is a key factor determining the economic development of many countries, including Russia, where oil production and sale accounts for over 40 percent of revenues to the federal budget, among ...


Are We about to Witness the Biggest Oil Crisis since 1986?

... markets throughout the globe. Some even argue that the 1986 oil crisis predetermined the collapse of the Soviet Union. Analysts draw parallels between the oil price dynamic in 1986 and 2015 based on similar trends that prevail in the market at the time. OPEC’s decision to sustain daily oil output over supporting the price of crude is one of such factors. Analysts also single out rising volatility and falling US Treasury yields as other contributing factors. In theory the global oversupply of oil ...


U.S. Oilmen Seeking New Vistas for their Sector

... tanks like Brookings and Cato, and NGOs are mushrooming to influence the media and the public. Should the lobbyists win, the global energy market and the entire network of trade links are in for major changes. Expect the weakening of an emasculated OPEC and more competition for individual energy giants, i.e. Russia, Saudi Arabia, Iran, Nigeria and others, who will face much fiercer competition in the emerging markets and Europe. At the same time, it is too early to predict the outcome, as the issue ...


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

Conspiracy, the laws of the market, and the oil weapon Will oil prices be able to recover after the collapse of recent months? This question will be answered by a session of the Organisation of the Petroleum Exporting Countries (OPEC) on 27 November 2014 in Vienna. Oil ministers from 12 countries will decide whether to cut output in the hope of raising oil prices or to leave things as they are. This expectation, however, seems exaggerated. OPEC today is not an organisation that ...


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 ...


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  1. In your opinion, what are the US long-term goals for Russia?
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    U.S. wants to deter Russia’s military and political activity  
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    U.S. wants to dissolve Russia  
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