Oil Market: low prices retained

Yuri Bobylev

Russian Economic Development, 2016, issue 12, 25-27

Abstract: Low world crude oil prices have resulted in scaling back oil production on high-cost oil deposits and in contraction of investment in the development of unconventional deposits. At the same time, reduction of crude oil extraction from the cost-intensive deposits, first of all, in the US, is offset by the built up production by leading OPEC countries who strive to increase their market share. In 2016, Iran and Saudi Arabia have significantly raised their crude oil output. Russia has also built up production, which hit all-time high since 1990. In 2017, one should expect relatively low oil prices to remain. At the same time, some growth is feasible in comparison with the current year.

Keywords: Russian Economy; oil market; Russian Economy (search for similar items in EconPapers)
JEL-codes: E52 P24 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
https://iep.ru/files/RePEc/gai/recdev/recdev-2016-12-798.pdf Revised version, 2016 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gai:recdev:recdev-2016-12-798

Access Statistics for this article

Russian Economic Development is currently edited by Alexei Vedev

More articles in Russian Economic Development from Gaidar Institute for Economic Policy Contact information at EDIRC.
Bibliographic data for series maintained by Olga Beloborodova ( this e-mail address is bad, please contact ).