Increasing Influence: ‘Russia Could Soon Control 73% of Global Oil Supply’
SputnikNews.com
0.03.2016
Russia’s role in the current oil crisis is increasingly changing. Since the influence of Saudi Arabia has been gradually weakening, Russia has started to play an important role in determining oil prices, German newspaper Deutsche Wirtschafts Nachrichten (DWN) reported.
In the context of the ongoing oil crisis Russia has now assumed a decisive role in the formation of a new cartel, which could lead to a new geopolitical order, the newspaper wrote.
After the first meeting between Russia, Qatar, Saudi Arabia and Venezuela in February, a new round of talks will be held again in mid-March, but this time with a larger group. Should Russia be able to reach consensus during the meeting, it would strengthen its leading role on the oil market and even help it control most of the global oil supply, the article said.
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