Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to RIA Novosti and the Prime news agency on the likely decisions at the upcoming OPEC+ meeting.
It is likely that OPEC+ will refrain from increasing oil production before the start of the summer season, and it is not worth waiting for new market-relevant decisions from it before the spring of 2026, Alexey Belogoryev shared his forecast.
"Oil prices are also declining with current OPEC+ production, especially since not all countries, including Russia, have chosen their quotas yet, and compensation mechanisms for previous overproduction continue to operate," the expert noted.
"There are also mixed assessments of the prospects for Russian exports on the market right now: some still give alarmist estimates of its possible reduction under the influence of sanctions, while others, on the contrary, see prospects for its growth in the event of a settlement of the Ukrainian crisis. Not everything is clear about the dynamics of demand. In these circumstances, the most reasonable solution is to wait it out," Belogoryev concluded.
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