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Significance
The cuts will be shared out rather than being borne only by the large producers, and companies face difficult choices about new investments and existing fields.
Impacts
Comparatively low transport costs via pipelines reaching export markets in Europe and China still give Russian producers a competitive edge.
The decline in oil-sector investment will contribute to a domestic recession.
Shrinking domestic demand will further depress budget revenues.
Keywords:
Russia,
RUCIS,
CIS,
OPEC,
economy,
industry,
fiscal,
foreign trade,
infrastructure,
investment,
oil,
talks,
Fossil fuels
© Oxford Analytica 2020. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2020
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