Russia and the Organisation of Petroleum Exporting Countries (OPEC) are heading for a cold war, with Moscow now exporting more oil than Saudi Arabia, industry experts say.
The key issue is that Russians are refusing to go along with OPEC demands for a concerted drop in production, posing problems for the oil cartel.
OPEC oil ministers are scheduled to meet in Vienna on Thursday.
Russia does not belong to the organisation, but has become a prime mover on world petroleum markets, and there is not much OPEC can do about it, experts said. article
Which makes the Sibneft-YUKOS-Exxon business all the more intriguing.
Sunday, November 30, 2003
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