Sign in for registered users
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 and the potential ...
... Arabia began exporting crude to Polish, Lithuanian and Czech refineries, while Russia, following the launch of the Eastern Siberia - Pacific Ocean (ESPO) pipeline, became a key oil supplier to China. Despite the ongoing calls for an output freeze, Saudi Arabia and its OPEC partners have been offering generous discounts to Asian and European customers, which pits them squarely against Russia on these markets . Investments and joint projects Oil-and-gas cooperation is also possible in the form of investments and technology ...
... oil revolution, Russia was the only top oil producer outside OPEC. In principle, this gave OPEC leeway to act unilaterally, or to have to coordinate with only one country (Russia) if it wanted to make sure that non-OPEC producers were not undermining OPEC output cuts. Today, Saudi Arabia is the only top producer that is a member of OPEC, meaning that in the unlikely event that OPEC members were to actually coordinate their actions, the risk of their market share being stolen by other non-OPEC producers is higher than before....
... attempts to coordinate oil production made by the world energy leaders in recent months were frustrated by cancelling the clause on fixing production at the January level . Thus, all oil producers may act at their discretion and, taking into account Saudi Arabia’s refusal to live by the OPEC quotas announced in December 2014, as of today there is not a single, not even an optional, format ensuring the coordination of energy policy among oil producers. By no means does this suggest that a similar forum cannot convene in the future. But ...
... Kanevskiy: U.S. Oilmen Seeking New Vistas for their Sector As of now excess crude production around the world amounts to about 800 thousand bbl a day. At the same time JP Morgan argues that the decision to maintain oil production at 31mln bbl a day will cost OPEC $200bn a year. Saudi Arabia alone stands to lose over $90bn a year. It seems, however, that Riyadh’s policy is gradually changing. Instead of saying that Saudi Arabia will not cut production the country’s officials argued that OPEC and such producers as ...
.... The fall in prices is fraught with unexpected consequences. Conspiracy, the laws of the market, and the oil weapon When everything is so bad, conspiracy theories are the simplest explanation. What they boil down to is the idea that the USA and its OPEC ally Saudi Arabia have taken a political decision to bring about a collapse in prices in order to weaken Russia for acting, as they see it, too independently in the international arena, especially in Syria and Ukraine. diepresse.com Sami Faraj, President of ...
... Arabia relies quite heavily on oil for its budget, we typically need around $90-100 per barrel for prices to be deemed fair. As anyone knows, who may have stumbled across a business section of any media outlet, reserve levels and production capacity of Saudi Arabia/OPEC, play a big role in global oil prices. This 'fairness element' is an interesting one, as it is in fact a double-edge sword, if it prices oil too highly by lowering production [which is not instantaneous, as markets must firstly adjust],...
| U.S. wants to establish partnership relations with Russia on condition that it meets the U.S. requirements |
|
| U.S. wants to deter Russia’s military and political activity |
|
| U.S. wants to dissolve Russia |
|
| U.S. wants to establish alliance relations with Russia under the US conditions to rival China |
|
