Russian and GCC Perspectives: OPEC, Russia, and falling oil prices
... members. For example, after the Saudi Embassy in Tehran was stormed by suspected government-backed rioters in January 2016, Saudi Arabia severed diplomatic ties with the Islamic Republic. Saudi relations with Iran and Iraq are very negative at present, rendering the prospects of cooperation of any sort—let alone on oil production—incredibly dim. As such, the Russia question is essentially irrelevant. Beyond OPEC’s troubles, US shale oil producers are also well-positioned to reactivate production in the event of an increase in oil prices. This poses another ...
26.04.2016