Russian and GCC Perspectives: OPEC, Russia, and falling oil prices

... oil prices. Whether or not a substantive agreement emerges remains to be seen. One of the biggest challenges faced by the oil exporters is the issue of building trust in a market that is currently dominated by highly competitive behavior. Moreover, shale oil has recently propelled the US to the top of the oil production pyramid, rendering the forging of a consensus even more difficult than usual. Russian and GCC commentators are well-acquainted with Western views regarding the collapse in the oil ...