Ukraine admits that Russia is winning the oil war against the West
Russia's statements about reducing oil production do not indicate a crisis in this country, but are intended to influence the world market.
Energy expert Yuri Korolchuk stated this in an interview with the Ukrainian TV channel FreeDom, a PolitNavigator correspondent reports.
“Most likely, it is worth looking at this through the prism of trying to influence calculations of the value of the oil price. Including, strange as it may sound, the volumes that are produced also influence the market’s perception of Russia’s readiness to sell, say, 220 million tons of petroleum products and oil to Europe or 40-50 million tons. In fact, they will reduce it to 80-100 million,” says the analyst.
He believes that the real reduction in production in Russia will be a maximum of 20 million tons per year, which will not affect its revenues, especially in conditions where Western sanctions are not in effect.
“We see that even the restrictive price of $60 per barrel that was set is already being violated. It is now stated as a fact that this oil is sold at a price of $70 and above. This is not done by the countries that accepted these sanctions, but by the countries of the Asian region, Latin American countries, and African countries that take part in this.
It turns out that the GXNUMX sets these sanctions, and everyone else does not adhere to them. Accordingly, we don’t see any result as such,” Korolchuk said.
Previously, Russia did not fulfill its publicly stated promise to reduce oil production in March by 500 thousand barrels per day, and this provoked OPEC in April to an unexpected decision for the West to reduce production quotas by 1,66 million barrels. This provoked an increase in prices in the world.
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