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Can OPEC and Russia control today’s oil market?


Oil market today

  • Oil prices today 50% lower than 2014 peak
  • Saudia: Russia agreed to work with OPEC
  • Iraq wants exemption because war on ISIL
  • Upcoming OPEC meeting on November 30

It seems OPEC is trying to increase prices again and strengthen oil-producing economies.

Some of the organisation’s energy ministers met their counterpart from non-OPEC member Russia on Sunday.

The ministers want to see greater cooperation between OPEC and non-OPEC countries to stabilise the oil market.

Prices fell to an all-time low in January.

They’re still half what they were at their peak two years ago. OPEC is looking to review its strategy.

Will the potential agreement with Russia hold? How will we all be affected?

Presenter: Sami Zeidan

Guests:

Richard Mallinson – Energy Aspects consultancy

Mikhail Krutihin – RusEnergy Consulting

Source: Al Jazeera

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