Russia’s aversion to Opec output cuts
Though the country has suffered from the downturn they will not agree to change their policy
Russia has probably suffered more than any other crude producer from the sharp fall in the oil price. So why, if the Saudis and other Opec members say any output cut from them would have to be done in concert with non-Opec producers, particularly Russia, is Moscow unlikely to agree to any such move now or even later in the year? “Even though it sounds sensible to do so, I do not see Russia participating in any output cuts with Opec,” says Chris Weafer, echoing the view of many analysts. A cut in oil production and attendant rise in the price would, on the face of it, be hugely beneficial for Russia. Its economy was hammered in the last quarter of 2014 as the oil price dropped from around $90
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
