Related Articles
Forward article link
Share PDF with colleagues

Russia’s aversion to Opec output cuts

Though the country has suffered from the downturn they will not agree to change their policy

Russia has probably suffered more than any other crude producer from the sharp fall in the oil price. So why, if the Saudis and other Opec members say any output cut from them would have to be done in concert with non-Opec producers, particularly Russia, is Moscow unlikely to agree to any such move now or even later in the year? “Even though it sounds sensible to do so, I do not see Russia participating in any output cuts with Opec,” says Chris Weafer, echoing the view of many analysts. A cut in oil production and attendant rise in the price would, on the face of it, be hugely beneficial for Russia. Its economy was hammered in the last quarter of 2014 as the oil price dropped from around $

Also in this section
Venezuela going for broke
16 January 2018
The Maduro government wants a new deal on its debt. Things are going to get messy
Iraqi Kurdistan sinking fast
11 January 2018
The future of the KRI's oil sector is uncertain, with the federal government determined to bring all the country's production and exports back under its wing
Iraqi Kurdistan's wrong turn
11 January 2018
Burdened by political and economic crises at home, the autonomous region faces difficult talks with a newly confident federal government in Baghdad