...
This not to mention other oil-supplying countries whose gold and currency reserves are much more modest than those of Russia and Saudi Arabia.
“We [Russians] have a big enough safety margin to finance our obligations. … The current prices in the oil market suggest our reserves could be
enough for six years
,” Russia’s Finance Minister Anton Siluanov said in a recent interview with the Rossiya-1 state-run news channel.
The oil market urgently needs to be stabilized. Today the market is heavily ...
... barrels per day; however, 1.6 million barrels of these are in Saudi Arabia. Thus, if military hostilities or domestic conflicts render Saudi Arabia incapable of controlling its oil production level, no one will be able to replace Riyadh on the global oil market. Given the strategic purpose of complying with the OPEC+ agreement, Russia’s spare capacity today is 0.2–0.3 million barrels a day. Russian producers could use these capacities. However, this requires all OPEC/OPEC+ participants to take ...
Top Five Factors Affecting Oil Prices
The situation on the oil market is a cause for concern – members are worried, and increasingly asking questions: prices continue to fall and there seem to be no signs of trend reversal in the offing. Nor is there any consensus among experts on this issue – forecasts ...
