OPEC meeting should suffer pressure from Russia

The next meeting of OPEC (Organization of petroleum exporting countries) is scheduled for November 30 and there are strong pressures and strong resistance to that world production is reduced so that the price of a barrel of oil go up.

To Russia, one of the more pressing for the fall in production, may reduce their oil pumping plans to 2017, according to the Russian Energy Minister Alexander Novak.

Internally the Russian Government faces pressure from oil companies. They plan to boost production in the next year, after reaching record levels in recent months, due to the start-up of new fields. These fields that went into operation in 2016 will continue its production in 2017. Consultations with OPEC are being positive and Russia will negotiate with some other countries outside OPEC producers, including Mexico and Kazakhstan.


10 thoughts on “OPEC meeting should suffer pressure from Russia

Leave a Reply