TOPLINE
Members of the Organization of the Petroleum Exporting Countries may exempt Russia from an agreement to gradually boost oil production, the Wall Street Journal " reported Tuesday, possibly freeing other oil-producing countries to increase their exports as oil prices remain high and Russia faces restrictions on exports.
An oil pump jack in the countryside of Syria’s northeastern city of Qamishli on October 26, 2019.
AFP per „Getty Images“
svarbiausi faktai
If OPEC suspends Russia from the monthly production goals set by the group in conjunction with other major oil-producing states, members of OPEC—including Saudi Arabia and a dozen other states—may be able to boost their own oil production to make up for Russia, according to the Žurnalas, which cited OPEC delegates.
Petroleum consultant Andrew Lipow told "Reuters" other oil producers might react to Russia’s suspension by increasing output because “they would feel that they no longer have a production quota agreement that needs to recognize Russia’s interest.”
Šios Žurnalas reported OPEC isn’t explicitly moving toward a production increase yet, though some OPEC countries are preparing to possibly boost exports this year.
Tačiau, "Bloomberg" pranešė earlier Tuesday that OPEC+—an alliance of oil producers including Russia—is expected to stick with its existing plan of modestly boosting production targets every month, regardless of Russia’s production issues.
"Forbes" has reached out to OPEC for comment.
Pagrindinės aplinkybės
After Russia invaded Ukraine in February, oil prices jumped precipitously, amid fears the war could constrict supply by making it harder for Russia—one of the world’s largest petroleum producers—to produce and export oil. Meanwhile, the European Union sutartas Monday to ban all Russian oil imports that arrive via ship, and Germany hopes to end all imports of Russian oil into the country this year, moves that could cover 90% of Russia’s oil exports to the EU, according to European Commission President Ursula von der Leyen. The pressure caused by Russia’s invasion added to a months-long trend of rising crude oil prices as demand recovered from the Covid-19 pandemic: The price of West Texas Intermediate has often lingered above $100 per barrel since the war began, up from less than $70 per barrel for part of early December.
Tangentas
Nuo praėjusių metų JAV pushed OPEC and other major oil-producing states to mitigate rising prices by increasing production. The OPEC+ alliance later agreed to gradually raising daily production goals, but turi ne reagavo to the Russian invasion with a major increase.
Papildoma literatūra
OPEC Weighs Suspending Russia From Oil-Production Deal (Wall Street Journal)
Source: https://www.forbes.com/sites/joewalsh/2022/05/31/opec-reportedly-discusses-exempting-russia-from-oil-targets-possibly-setting-stage-for-boost-in-output/