Talk:OPEC

OPEC cuts production. Yes, this is the result of reduced demand caused by global recession. But it is also a vote for Russia and the multipolar world against Biden/NATO/Ukraine. RobS^{Ich bin ein breakfast taco} 00:14, October 6, 2022 (EDT)

Your observation is insightful, and please feel free to add that to the entry. Russia appears to be the leading member of OPEC+, and Russia's view about oil production (despite the recession) seems to have prevailed with that large coalition.--Andy Schlafly (talk) 00:50, October 6, 2022 (EDT)

Russia's state budget is about half dependent on oil revenues, and Western sanctions were intended to strangle that. But Russia found alternative markets, albeit at a discount, in China and India. Then the global recession hit, demand started drying up, and Russian state revenues began to fall, threatening its ability to sustain the war. Biden begged MBS to increase production (Baby Bush once bragged he could do it with a phone call) and MBS told him to drop dead. So it appears MBS and Putin are on the same sheet to sustain revenues with higher prices. (As an aside, Macron & Erdogen have failed to act as mediators for peace talks between Russia and the West, but MBS (the notorious killer of the WaPo journalist) has positioned himself nicely. RobS^{Ich bin ein breakfast taco} 05:12, October 6, 2022 (EDT)