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Home Defence & Military News World Affairs News

Oil cartel and Russia on the verge of a cold war

by Editor
December 1, 2003
in World Affairs News
1 min read
0
14
VIEWS

AFP, With Russia now exporting more oil than Saudi Arabia, the scene is set for a cold war between Moscow and the Organization of Petroleum Exporting Countries (opec), industry experts say.

The Russians are refusing to go along with opec demands for a concerted drop in production, posing looming problems for the cartel as opec oil ministers prepare to meet here on Thursday.

Russia does not belong to the organization but has become a prime mover on world petroleum markets, and there is not much opec can do about it.

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