Why Russia Must Pressure Libya to Reduce its Oil Production

... members, like Libya, to cut production ahead of the August 7-8 gathering of oil producing countries in Abu Dhabi, United Arab Emirates.   Second, Russia’s enforcement of OPEC quotas allows Moscow to contain the negative blowback affects of unchecked Libyan oil production on the Russian economy and the strength of the Russian ruble. These concerns have been highlighted by notable Russian economic analysts, like eToro’s Mikhail Mashchenko, who believes that Libya’s increased oil production will compound the downward pressure ...