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 ... ... 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...
... improvement, namely the revival of Europe’s real estate market. Nevertheless, there are no reasons to expect a significant increase in demand for oil in the near future.
India
, which continues
to develop
rapidly, has substantially increased oil imports in 2015. Nevertheless, even such a large economy cannot reverse this bearish trend.
Russia will not turn the tide on the oil market; rather it will exacerbate the current situation.
For now, two major actors account for the main market uncertainty: OPEC, whose policy has literally shaken the market in July 2015, and the United States with its shale revolution and unpredictable dynamics.
A number of political variables such as a possible lifting of the ban on American oil exports are a no less significant ...
