Here’s an English transcript of my Al Jazeera comments on OPEC+ negotiations and some further remarks on the group’s agreement to raise production.
Good evening from Berlin.
Answer 1. Well, OPEC-Plus is faced with maintaining a very delicate balance.
On the one hand, demand in the Western world is down, its weak, while in the Eastern world, in Asia – in China and India – demand is relatively strong. And this is a complicating matter.
At the same time, in supply, in Libya, for example, the oil production is not under the [OPEC+] agreement and has been coming back on the market.
OPEC has been doing relatively well, in the last few months or so, of balancing the market. The question is, how to maintain this going forward, with its exports, how to balance supply with demand.
But what is appearing is not the big split between Russia and Saudi Arabia that we saw last year in the Oil Price War. Now we have differences … such as we see with the UAE [i.e., versus the Saudis]. The UAE would like, as we have seen, also Russia has said, an increase in production. That would be very difficult for other, more expensive producers to do at this point.
Answer 2: Yes. It does. I mean, of course the UAE has been getting a lot of press [about its demand to increase production], … so it is a matter of how serious the UAE is, and how serious the Russians are to want to raise production in some way.
Join 1,065 other followers
- My Doha talk: Europe’s energy crisis: another front of Putin’s Ukraine War – & the GCC 14.Nov.2022
- My DW: Will the gas-price cap keep firms in Germany? BASF & German politicians’ years-long energy policies have collapsed. 14.Nov.2022
- Our TRT/Istanbul: Will Turkey be Russia’s new gas hub to Europe? Can Putin save his gas sector? What’s Erdogan’s game? 14.Oct.2022
- Our TRT London: Can Moldova escape Russian energy dependence? 14.Oct.2022
- My Al Jazeera: Costa, Sánchez & Scholz, in Berlin, demand Midcat gas pipe via France. They’ll confront Macron at EU Council, 20-21 Oct 14.Oct.2022
- Al Ghad/Cairo: Putin tempts Erdogan, “Take Nord Stream gas at a Turkish hub. Sell EU my gas. Forget NATO.” Putin’s ‘Gas Godfather’ games become pathetic. 14.Oct.2022
- Video | European Energy Crisis panel at Montenegro’s 2BS Forum, with Prof Alan Riley, me & moderator Jasmina Kos 14.Oct.2022
- Kyiv Post: “What to Expect in the Energy War? Interview with Expert Thomas O’Donnell” 14.Oct.2022
- My Al Jazeera: Washington picked a pointless, populist fight with the Saudis over OPEC+ cuts 14.Oct.2022
- Asharq TV: I debated Moscow expert Kirill Semyonov on the Nord Stream 1 & 2 explosions: “A suspect (Russia) cannot be an investigator.” 14.Oct.2022
- My Sky News: Are EU Measures vs the Russian Oil- & Gas-War Enough? 14.Oct.2022
- Financial Times quotes me: Germany embraced Russia’s energy for “strategic balancing” vs USA 14.Oct.2022
- My TVP, Warsaw: Assessing Energy Supplies in the EU’s Energy Crisis vs Russia. 14.Sep.2022
- My Al Jazeera: I was asked to assess Pres. Von der Leyen’s proposals on the energy crisis | Sharing hardships fairly is the key to unity. 14.Sep.2022
- Al Jazeera’s video on my view: “What does Russia’s gas cut mean for Europe?” 14.Sep.2022
- I’m cited The New York Times | Putin is wielding his gas weapon vs the EU while he still has it. The energy war will be fierce. 14.Sep.2022
- My Asharq: Russia’s War is driving MENA shortages, inflation & unrest | How Moscow uses “denazification”+”food aid” lies. What can MENA states do? 14.Sep.2022
- My DW: On OPEC+ decision & the EU’s Russian-gas price cap || AL JAZEERA: I debated Moscow expert on Putin’s try to divide EU on gas. Gemany will never trust Russian energy again; & it is rearming. 14.Sep.2022
- On Al Jazeera with expert in Moscow | Putin wants a “compromise” for gas. Like what, Donbas? Odessa?- In my view, EU citizens will choose the cold … & their dignity. 14.Aug.2022
- My Al Jazeera: Russia cuts Latvian gas; but Baltics & Poland prepared, with LNG facilities. German leadership ridiculed them. | Putin is using energy blackmail to fight sanctions imposed on Russia for his Ukraine war. 14.Jul.2022
- My DW TV: Why Putin cuts EU gas bit-by-bit? Can Germany handle it? Wind’s low, so we’re buring gas! | Many EU states warned Berlin: “Don’t open our door to Putin’s Trojan horse!” 14.Jul.2022
- Putin cuts Nord Stream1 to 20%. Gas is Moscow’s key economic lever: Exports earn much less than oil & EU needs two-to-four years to replace it | USA-EU should hit Russian oil harder 14.Jul.2022
- Roundtable Invite/Einladung: Threat of Russia-Gulf States oil price war for Asian market? Berlin, Bundestag Press House, 28 July. [Deutsch/English event] 14.Jul.2022
- My Euronews: Nord Stream1 back on. Putin knows EU will be free of Russian gas in couple years; he’ll weaponize it while he still can. Killing EU-Ukraine solidarity is the target. 14.Jul.2022
- Is a lack of oil refineries boosting global fuel prices? Al Jazeera asked us, in Houston & Berlin 14.Jul.2022
- Al Jazeera asks: What if Gazprom cuts Nord Stream1? EU strategy rests on solidarity. | As Putin’s EU gas trade dies, he can weaponize it once or twice more. 14.Jul.2022
- Al Jazeera: Former Russian Foreign Minster A. Fedorov & I are interviewed: A Putin Gas War vs EU? | Me: This would be another huge Putin tactical blunder. EU citizens will not be intimidated, will unite, blaming Putin. 14.Jul.2022
- My Al Jazeera. Turbine-in-Canada: Germany gets it back for Russia. Ukraine objects | EU gas crisis looms: Winning this economic war will have costs 14.Jul.2022
- My Asharq(Bloomberg): What if Russia cuts off EU gas? Do sanctions hurt Russia? How’s Putin’s oil going to India? “This is Putin’s energy war to win his Ukraine war.” 14.Jul.2022
- My AlJazeera: Russia cuts exports via Nord Stream 1 by 60%, further weaponizing EU over-dependence, as part of its war against Ukraine. EU winter gas rationing is possible. 14.Jun.2022
- My DW live: Gazprom Germania bailout: German policy made EU hostage to Russian energy, enabled Moscow’s Ukraine war | German strategy 1980-2022 was “strategic balancing” of Russia vs USA to carve out a space for its freedom of action within sphere of USA predominance. 14.Jun.2022
- My Al Jazeera: After EU (finally!) puts sanctions, the Saudis & OPEC move quickly to occupy Russia’s lost market shares | The world has abundant oil to develop [EN audio/AR video] 14.Jun.2022
- AlJazeera live: EU failes to agree on Russian oil embargo. With months of oil in storage, Druzhba inland refineries are no excuse. 14.May.2022
- Asharq live: No EU embargo agreed vs. Russian oil. Some too cautious (Germany), others pro-Putin (Hungary). Yet, EU has months of oil in storage. [EN audio, AR video] 14.May.2022
- My Al Jazeera: Finland, the Baltics & Poland prepared well for Gazprom’s cutoff. Germany & Austria did the opposite, putting EU at risk. 14.May.2022
- My Kosatka (Kyiv) Q&A: “Biden’s ‘gas airlift’ & Kremlin revenue. Tom O’Donnell on Russian gas embargo” [Ru/En/Ua] 14.May.2022
- Le dije a Radio Clarín Buenos Aires: Putin amenaza con cortarle el gas a la UE/Alemania, pero no tiene otra fuente de dinero. Si lo hace, Biden y la UE organizarán un “Gas-Lift” … [Spanish] 14.May.2022
- Would EU sanctions on Russian oil cost Germany “too much”? No. Scholz & Habeck pose the wrong questions. [Asharq/Bloomberg live: En & Ar] 14.Apr.2022
- My Al Jazeera: Yes, the EU can embargo Russian oil now: OPEC’s role, Germany’s Druzhba refineries OK, SPRs, weak demand. [Arabic & English] 14.Apr.2022
- My Nexus TV: Sanctions hobble Putin; we agreed in London, Berlin, Kyiv & Moscow | Me: Putin must sell oil/gas at any price; they’ll be sanctioned too 14.Apr.2022
- My DW live: Germany & EU can cut Russian oil now: West has strategic reserves; USA, UAE & Saudi ouputs will rise; Russia will reroute sales at big discounts to India & China. Price would spike, then sink on oversupply & Putin’s revenues crash 14.Mar.2022
- My Al Jazeera: Defaulting, Putin becomes “Hugo Chavez with nukes.” EU sanctions on Russian oil would force discounted sales “out the back door” to China et al … killing the initial global price spike [English audio. Arabic video] 14.Mar.2022
- Mi DW en español: Explico las razones geoestratégicas de dos gruops de las élites alemanas para depender del gas natural ruso. Permitieron un desastre para Ucrania. 14.Mar.2022
- My Al Jazeera: Global oil price expectations due to Russia’s war on Ukraine [Arabic & English] 14.Mar.2022
- EU Gas Crisis: German elites chose Putin’s pipeline over Ukraine “risk” | My DW ‘Inside Europe’ interview (NPR syndicated) 14.Mar.2022
- My CGTN TV: The growing EU v Russia asymmetry in energy trade. EU-USA nix oil/gas sanctions over Ukraine, fearing supply crisis. 14.Feb.2022
- Kyiv’s Wall of Remembrance to 4,000 Ukrainian soldiers already killed vs. Russian aggression | Thoughts on my video at St Michaels Monastery 14.Feb.2022
- My TRT/Istanbul: Biden names Qatar a “major non-NATO ally,” seeks LNG for EU. Energy scenarios of a Russian war vs. Ukraine. 14.Feb.2022
- EU Energy Crisis: Germany & EU long ignored US warnings that Putin can weaponize gas, attack Ukraine – On David Foster’s Roundtable, London 14.Jan.2022
- EU Commission openness to nuclear as green, betrays falling confidence in the German 100%-renewables model [English & Polish] 14.Jan.2022