HomeMediaLatest NewsBreak at OPEC: why the oil cartel faced controversy

Break at OPEC: why the oil cartel faced controversy

01 December 2020

Salikhov Marcel R. President, Principal Director on Economic Studies, Head of the Economic Department

Marcel Salikhov, President of the Institute commented to the Izvestia newspaper on the situation in the world oil market.

The main contradictions today exist between Saudi Arabia, which is proposing to extend the current restrictions for the first months of 2021, and the countries such as the UAE, Iraq and Kuwait, President of the Institute for Energy and Finance, Marsel Salikhov told to Izvestia.

- They are unhappy with the fact that they were actually forced to cut production more in relative terms to meet their obligations. Russia is trying to work out a compromise position and find a solution that will suit all participants, the analyst stressed.

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