... on debt. Impacts The threat of production increases could be used by Saudi Arabia to achieve greater compliance from other OPEC+ members. There is still potential for production interruptions from countries such as Libya due to domestic political divisions. The PIF could move with limited...

...Oxford Analytica Significance OPEC+’s approach is crucial for oil prices and the budgets of the economies involved, and for global inflation and monetary policy. Tensions within OPEC, and between OPEC and non-OPEC members of OPEC+, would make it difficult for OPEC+ to deepen cuts or even sustain...

... 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. 2024 International INT OPEC economy energy gas natural resources oil...

...Oxford Analytica Headline RUSSIA: Moscow may struggle to cut oil supplies RUSSIA: Russia announced yesterday that it will reduce oil output by almost half a million barrels per day (b/d) in the second quarter of this year. The move was agreed with Russia's energy allies in the OPEC+ group...

... (see CHINA/RUSSIA: Russian economy will rely more on China - April 6, 2023). Russia's relationship with OPEC+, and Saudi Arabia in particular, has also changed. Moscow's relationship with the cartel is one factor that has allowed it to increase its influence among the Gulf states even though...

.... 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. 2024 Greece EUR EU OPEC economy...

... 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. 2023 International INT EU Japan Marshall Islands OPEC Saudi Arabia United...

... 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. 2023 Russia RUCIS Iran OPEC Saudi Arabia United Arab Emirates Ukraine...

...Oxford Analytica Headline BRAZIL: Lula backs away from OPEC+ amid pressures © Oxford Analytica 2023. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice...

... Alexander Novak stated that the move is taking place in coordination with some OPEC+ countries. The agreed reduction will be calculated based on the average level of exports for May and June 2023. It was also reported that Russia was assessed to have complied with previous pledges to reduce exports...

...Oxford Analytica Headline RUSSIA: Moscow will benefit from higher oil prices Russia OPEC ME/NAF RUCIS economy international relations energy finance fiscal oil prices sanctions shipping talks Fossil fuels RUSSIA: The price for Russia's Urals export blend of crude...

... 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. 2023 Saudi Arabia ME/NAF International OPEC economy fiscal growth oil...

... March. OPEC's oil market report published in May indicates that Russia's crude oil production is expected to decline from an average of 11.03 million barrels per day (b/d) in 2022 to 10.28 million b/d in 2023. That growth momentum is likely to weaken in the second half of the year. The S&P...

... 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. 2023 Kazakhstan International RUCIS OPEC KAZAKHSTAN/INT economy industry...

...Oxford Analytica Headline OPEC: OPEC has announced a small oil supply cut © Oxford Analytica 2022. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice...

... Venezuela LA/C EU Iran Latin America OPEC Russia United States economy industry international relations politics foreign policy foreign trade government oil opposition sanctions talks President Nicolas Maduro (l) with Iranian President Ibrahim Raisi in Tehran (Iranian...

... are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites. 2022 Iraq ME/NAF Iran OPEC Saudi Arabia United Arab Emirates economy international relations politics energy foreign investment gas...

...Oxford Analytica Significance Neither Moscow nor the countries which have imposed sanctions on it wish to damage energy trade, but some disruption to Russian oil product flows is likely. The oil market is already tight and OPEC has been unable to deliver its planned output increases. Impacts...

... with, endorse or have checked for accuracy the contents of said sites. 2021 OPEC+ warned in November that as more crude oil is added, sluggish global demand could result in a rapid build-up of oil stocks next year, destabilising the market. Russia RUCIS CIS OPEC economy industry...

...Oxford Analytica Significance Capacity has fallen by around 15% over the past four years and is below the country’s official OPEC baseline. COVID-19 and difficult executive-legislative relations in 2020-21 have interfered with oil sector project delivery. Impacts As projects flounder, Kuwait...