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OPEC+ off-target in July
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
The great OPEC+ reset
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
Latest EU sanctions largely toothless
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
BP’s long stay in Russia
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
Arbitration with Gazprom: How to collect
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award, but this is no easy task
Power of Siberia 2: Deal or no deal?
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns around over-dependence on a single supplier and desire to drive down the price make it relatively unlikely a contract will be finalised this year
Trump’s Russia threat rings hollow
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
Letter from Austria: OPEC delivers wake-up call
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
OPEC+’s extra barrels mostly made of paper
Robust demand and a limited supply of additional physical barrels from key OPEC+ producers has kept the oil market in a healthy price range
Waiting for Arctic LNG 2
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
Russia Opec
Daniel Crawford
Moscow
6 July 2020
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Letter from Moscow: Putin triumphant, but facing choppy waters

The Russian strongman’s referendum delivered him the expected result. But there are troubles on the horizon

Russia’s late June constitutional referendum delivered a strong majority in support of reforms that could keep President Vladimir Putin in power until 2036. Almost 78pc of voters supported the measures, election officials say, while turnout was estimated at 65pc. This has given the Kremlin its desired mandate. In a national address at the end of June, Putin urged voters to ensure Russia’s “stability, security and prosperity”. But amid the continuing economic fallout from the coronavirus pandemic, Russia, like many other countries, will struggle to deliver on such promises. Economic turmoil Large sectors of the Russian economy were closed during lockdown, with little government support availa

Also in this section
Trump’s energy report card
11 August 2025
The administration is pushing for deregulation and streamline permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
OPEC+ off-target in July
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
The great OPEC+ reset
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
Latest EU sanctions largely toothless
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy

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