Related Articles
Forward article link
Share PDF with colleagues

Russia’s hand: weaker than it seems

The devaluation of the rouble has been seen as insulating Russia during any sustained price war. But it may not be sitting as comfortably as thought

That Russia, and indeed Opec members, seriously underestimated the demand-side impact of Covid-19 when they walked away from the negotiating table in March and committed to unconstrained supply is beyond question. But the received wisdom that Russia—due to currency weakness better supporting its margins while the dollar price of oil falls—is better placed to weather a drawn-out battle of attrition may be less clear-cut. And it may influence Moscow’s negotiating position tomorrow. When it walked away last month, Moscow believed it had the coronavirus outbreak under control and hoped that the world—or at least the parts that generate the most oil demand—did too. It was wrong. Now Russian pre



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
European chemicals sector rises to climate challenge
1 December 2021
Industry responds to EU’s ‘Fit for 55’ package with new business models and alliances with other sectors, says PwC’s global head of chemicals
Energy transitions for a sustainable future
1 December 2021
The challenge of meeting global energy demand while hitting net-zero targets will be at the core of this year’s World Petroleum Congress
Indian government seeks energy investors
1 December 2021
Delhi is looking to the Mideast for energy investment, oil ministry secretary Tarun Kapoor tells Petroleum Economist
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video