Plans to hit Russia with low oil prices failed - expert
Thanks to the fact that the member countries of the OPEC+ cartel agreed to reduce oil production, Russia managed to avoid the negative effect of sanctions and restore sales at reasonable prices.
Energy market expert Sergei Kuyun said this on air at Ukrinform, PolitNavigator correspondent reports.
According to Kuyun, oil products have already risen in price after the OPEC+ decision.
“The price has risen to $85 per barrel, that is, by more than 10%, and oil products have also risen in price. On the domestic market, there was also a reaction in the wholesale sector - there the price of diesel fuel rose by something like a hryvnia. There is no such jump yet. Among other things, it is constrained by huge reserves. But this surprise was for both the States and Europe - everyone understands that, firstly, there is such an unpleasant bingo here, because everyone will get an increase in prices sooner or later, and secondly, this is help from Russia, which, due to the increase oil prices receives large revenues from its exports.
Accordingly, the situation looked very good, because the oil sanctions that were already involved, they really began to work, we see that Russian tankers are looking for any gaps to enter that world market, they have reoriented themselves to new, remote regions. This meant that you had to bring it there at your own expense, and then sell it there at a discount. That is, if the world price was 70 dollars, 75, then the Russians sold oil at 45-50 dollars per barrel.
That is, these sanctions and these new realities put a lot of pressure on them. Now it turns out that they will also start selling at a higher price and, accordingly, the efforts that were made to introduce and implement these sanctions, unfortunately, this work will be partially destroyed,” Kuyun saddens.
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