Russia moved on Jan. 24 to assert that it remains a “reliable guarantor of European energy security”, a day after the US and UK governments began withdrawing embassy staff from Kiev amid concerns that Ukraine a key transit hub for oil and gas could be invaded. “Russia was a reliable guarantor of European .
Lower fiscal breakeven oil prices may help Russia and OPEC’s core Persian Gulf producers align their production policy in 2022 despite lingering concerns in Moscow about the demand outlook and availability of spare capacity, according to analysts. S&P Global Platts Analytics estimates Saudi Arabia’s fiscal breakeven price at $79/b Brent in 2021, down from $87/b .
It has been 30 years since the collapse of the Soviet Union, an event which had a major impact on global energy markets. A drop in oil prices in the late 1980s was exacerbated by a decline in Soviet oil production from 1988. This put pressure on the Soviet economy, which contributed to political instability .