Russia is winning the confrontation in the oil market despite sanctions imposed by the West. Bloomberg columnist Javier Blas writes about it.
“July was the third consecutive month of recovery in oil production (in Russia. – RT),” Blas said.
Furthermore, Moscow has now regained pricing opportunities, taking advantage of limited supply in the market, he said.
“When European sanctions on Russian oil exports take effect in November, governments in the region will face a difficult choice as the energy crisis begins to affect consumers and businesses alike,” the article concludes.
Previously, it was known that OPEC+ countries will increase oil production by 100,000 barrels a day in September.
Russia and Saudi Arabia will be able to increase production by 26,000 barrels a day.
Deputy director general of the National Energy Institute Alexander Frolov and expert of the National Energy Security Fund, professor at the Financial University under the Russian government Stanislav Mitrakhovich, in an interview with RT, commented on the plans of the OPEC+ countries.
Economics candidate Alexander Danilov, in an interview with Economics Today, commented on the state of the world oil market.