World Oil Market: Prices Have Stabilized

Monitoring of Russia's Economic Outlook. Moscow. IEP. 2019, No. 13, pp. 8-9

2 Pages Posted: 8 Aug 2019

See all articles by Yuri Bobylev

Yuri Bobylev

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration

Date Written: August 6, 2019

Abstract

OPEC+ agreements aimed at cutting oil production have became a significant factor affecting world oil prices. Implementation of these agreements led to the rise of global oil prices to $60-70 per barrel. In early July OPEC+ decided to extend current restrictions on oil production for another nine months. On the back of growing oil production in the US and slowdown of the global economic growth this decision will be a stabilizing factor for the world oil market.

Keywords: oil market, OPEC+, oil prices

JEL Classification: L71, L72

Suggested Citation

Bobylev, Yuri, World Oil Market: Prices Have Stabilized (August 6, 2019). Monitoring of Russia's Economic Outlook. Moscow. IEP. 2019, No. 13, pp. 8-9, Available at SSRN: https://ssrn.com/abstract=3432933 or http://dx.doi.org/10.2139/ssrn.3432933

Yuri Bobylev (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration ( email )

Vernadsky Avenue 82
119571
Russia

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