Oil Economy Focus Rapid Review
Russia’s mainstream oil producers Rosneft, Gazprom and Lukoil increased pressure on Russia’s president Vladimir Putin to slow down preparations for the expected marriage with OPEC. Even though OPEC’s leaders (Saudi Arabia and the UAE) are vying for a deepening of the bilateral relationship, Russian parties are openly questioning the rationale behind it.
The ROPEC deal has caused the Russian oligarchs to lose market share and has led to delays for future projects. They are also worried about the production records tied to U.S. shale oil. In the end, both the futures of Putin or Saudi Crown Prince Mohammed bin Salman depend on higher revenues and grand-scale geopolitical alliances.
LINK TO THE SOURCE ARTICLE: OPEC-Russia bromance coolings
