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

... 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 major barrier to any producers seeking to raise prices via a coordinated output cut. Future Prospects Falling oil prices ...