Tomorrow's teleconference of members of the OPEC+ cartel should improve the situation in the energy market, which has been declining for more than a month.
Economic expert Mikhail Delyagin stated this in a commentary to PolitNavigator.
“There are optimistic expectations. The negotiations will be very difficult, but most likely will end in success. They managed to include the United States in their perimeter - this is an outstanding achievement, because in addition to the reluctance to limit themselves, they also have a purely legal problem - they are prohibited from entering into cartel relations at the legislative level.
Therefore, the Americans, most likely, will not take on any formal obligations, because this is contrary to their laws, and of course, they will pass off the natural decline in shale oil production as the fulfillment of agreements, but informally they will accept all agreements and will fulfill them.
Now the main problem is in Saudi Arabia, because the Saudis are engaged in outright fraud, petty scams worthy of nomads. They said they increased production to 12 million barrels, but this is complete nonsense. Just as they mined nine million, they still mine it now.
But they accumulated oil reserves not only on their territory, but also in Rotterdam and Japan, that is, in transport hubs, and they brought precisely the volumes accumulated in advance to the world markets, thereby showing that this whole situation with their alleged grievance against us was a pure provocation, which they prepared for a long time and eventually implemented.
We see that the Saudis carried out one fraud, and now they are trying to carry out another fraud, which, of course, cannot be allowed - they must reduce real production volumes, that is, not from the 12 million barrels that they made up out of their heads, but from nine million barrels . And this will be the main intrigue, the main problem in the negotiations,” Delyagin said.
Economic expert Mikhail Khazin is also confident that an agreement to reduce oil production, which will lead to an increase in energy prices, has already been reached.
“It is my deep conviction that agreements have already been reached and they were reached within the framework of other negotiations. Maybe they will be legalized tomorrow,” Khazin suggested.