Deal with Regime: OPEC, Russia Consider 10-20 Year Oil Alliance!

[Pavel + 384]

OPEC and Russia are working on a long-term deal to cooperate on oil supply curbs that could extend controls over world oil supplies by major exporters for many years to come. According to Saudi Crown Prince Mohammed bin Salman Riyadh and Moscow were considering extending an alliance on oil curbs that began in January 2017 after oil prices crashed and now they are working to shift from a year-to-year agreement to a 10-20 year agreement. No detail about a new ally. When the whole world is against Russia and its regime, OPEC is with them. Money talks.

[damirUSBiH + 327]

Congrats. Saudi Arabia -  so let’s sell them another $1 billion in arms, since they clearly are our friends.

[pinto + 293]

Deal with Russia and regime? What is price: more killing, more hungry people, more crisis...Shameful. They are giving a wings to Putin.

[Prof. Johnny MARQUEZ + 2]

The international oil market, the International oil companies and specially the Producers States, need an agreement between OPEC and NON OPEC, that may give stability to the world energy industry for exploration, production, refining, transport  by pipelines  and international maritime transport of oil and gas and their by products.

[franco + 96]

15 minutes ago, Prof. Johnny MARQUEZ said:

The international oil market, the International oil companies and specially the Producers States, need an agreement between OPEC and NON OPEC, that may give stability to the world energy industry for exploration, production, refining, transport  by pipelines  and international maritime transport of oil and gas and their by products.

Ok. If you think so, maybe they should include North Korea, Iran, etc ..That's the same?!

[jpZelabal + 63]

By my opinion, this is more (geo)political deal, than the honest try to establish some rules on oil sector.  Saudi Arabia believes Russia could help it with Iran, which it fears will develop nuclear weapons and is on the opposite side from Saudi in a proxy war in Yemen.

[Pavel + 384]

The Russian influence in the Middle East is stronger than the U.S.  And, of course - Russian and Saudi Arabian relationship is becoming more important  than "pure oil". The Saudis are now trying to convince Russians how they are a better choice for them, than Iran...

[Dan Steffens / EPG + 2]

It is in the world's best interest for OPEC and Russia to work together to stabilize oil prices.  Wild price swings in a commodity as important as oil is not good for anyone and especially not good for the U.S. upstream companies.

Dan Steffens, President 

www.energyprospectus.com

 

[Petar + 76]

Hope, this "marriage" Russia - OPEC, SA,  will help as an insurance policy against future volatility and cycles. The Russians care more about volume than price, and the Saudis care more about price. Halfway...