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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
IEA and OPEC energy assumptions on fragile ground
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Saudi Arabia and Russia pull OPEC+ in different directions
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
OPEC+ still showing restraint
Petroleum Economist analysis shows OPEC bringing back some barrels in May, but fewer than expected, while OPEC+ continues to see output fall
Is a Russia-Iran gas deal on the horizon?
Russia has ample spare gas, and Iran needs it, but sanctions and pricing pose steep hurdles.
Europe’s hard choices on gas security
EU half measures over storage regulation, geopolitical risks to ending Russian gas, power outage questions and China’s LNG resale leverage make for a challenging path ahead.
OPEC++, the sequel, has arrived
It is time to acknowledge that the US-Saudi Arabia nexus is driving a fundamental shift in OPEC strategy
Russia Opec Saudi Arabia
Jason Corcoran
21 May 2018
Follow @PetroleumEcon
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Is Russia edging towards the Opec exit?

Russian output remains much higher than the level it agreed to in December 2016 and producers have big expansion plans

All the talk ahead of Opec's June meeting in Vienna is about converting the alliance Opec signed with Russia into an as-yet-undefined long-term pact. Yet the word from corporate Russia is somewhat different: after more than a year of restraint, some of the country's biggest producers are outlining big new upstream growth and investment plans. Energy Minister Alexander Novak has, at least, added his voice to the plans for indefinite cooperation with Opec—yet, as some observers in Moscow note, the need to rejig things may also be a tacit admission that the current arrangement has run its course. While Russia has no plans to join Opec, Novak said the Kremlin is looking at a range of other forma

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