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 price. However, Russian and GCC commentators are comparatively uninformed about each other’s perspectives regarding this key development due to the nascent ...