Global Oil Market: Main Trends

Monitoring of Russia's Economic Outlook. IEP. Moscow, No. 1, pp. 9-11, 2020

3 Pages Posted: 27 Mar 2020

See all articles by Yuri Bobylev

Yuri Bobylev

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

Multiple version iconThere are 2 versions of this paper

Date Written: March 3, 2020

Abstract

Implementation of OPEC+ oil output cut agreements has led to stabilization of the world oil prices in the $60-70 per barrel range. In H2 2019, the oil prices pushed closer to the lower bound of this range. In December 2019, members of OPEC+ decided to cut further the oil production from January 1, 2020. Amid growing oil production seen in the countries outside the cut deal such measure should prolong stabilizing effect on the oil market and prevent a significant price slump.

Keywords: Russian Economy, OPEC+ Oil Cut Agreements, Global Oil Market, Oil Production

JEL Classification: L71, L72

Suggested Citation

Bobylev, Yuri, Global Oil Market: Main Trends (March 3, 2020). Monitoring of Russia's Economic Outlook. IEP. Moscow, No. 1, pp. 9-11, 2020, Available at SSRN: https://ssrn.com/abstract=3547872

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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