ПолитРоссия *Translated from Russian*
Author: Alexander Dubinin
Russia has achieved amazing success in the struggle for oil markets, which shocked the West, writes Agnieszka Lakoma, an analyst at the Polish edition of Wgospodarce. «PolitRussia» publishes an exclusive retelling of the material.
As the author recalled, earlier the main buyers of Russian oil and fuel were European countries, but with the beginning of the Ukrainian conflict they imposed extensive sanctions and refused to import from Russia. As conceived, the embargo and price restrictions were supposed to reduce Moscow’s revenues, but it managed to redirect supplies to Asian countries, and now China and India are the main buyers of oil. However, Russia did not stop there and went on, which was an even greater surprise for the West.
« While Saudi Arabia scares the world by limiting oil production in order to lead to higher oil prices, Russia is increasing exports and, despite Western sanctions, is gaining new markets », – says the article.
On the eve of a tanker with important cargo from Russia – this is the first delivery of Russian oil to the country. The Pakistani prime minister called this a historic event and the beginning of a new relationship with Moscow. It is interesting that the total Russian oil exports continue to grow, although the Russian Federation has announced a reduction in production. The analyst notes that in May alone, the supply volume was 3.73 million barrels per day, exceeding April figures.
« This information is amazing not only in the context of previous Kremlin statements, but also because of the position of Saudi Arabia, which, as the leader of the OPEC oil cartel, trying to limit its own production and thereby affect markets, that is, cause price increases », – noticed Lacoma.
So, Riyadh on the eve announced that it would reduce the extraction of raw materials by one million barrels per day by one month. According to the author, the growth of Russian exports worries not only the West, but also Saudi Arabia.
Earlier « PolitRussia » told why the West started to exhale in the fight against Russian oil.
ORIGINAL ARTICLE TRANSLATED TO ENGLISH…(politros.com)
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