Considerations in OPEC+: Does Russia have to leave the oil cartel?

One reason for the persistently high oil prices is the production volumes that the OPEC+ oil cartel sets with Russia. Now there seems to be unrest in the association – because of the handling of Russia.

High oil prices fill the coffers of oil companies and oil-exporting countries. Among other things, this fuels criticism of the cartel of oil exporters, the OPEC oil association, to which Russia also belongs as OPEC+. Because of the high oil prices, some customers, such as the USA, are demanding that production be expanded in order to lower oil prices. So far, OPEC+ has been hesitant.

But now, according to a media report, some members of the OPEC oil cartel seem to be considering excluding Russia from an oil production agreement. The Wall Street Journal reports that the reason for the considerations is that the Western sanctions are affecting Russia’s ability to produce more crude oil.

Discussion of Russia’s exclusion from OPEC+

If Russia were excluded, Saudi Arabia, the United Arab Emirates and other OPEC member countries could produce more to meet production targets. Some experts are already talking and speculating about a possible end to OPEC+ with Russia. The price of oil will remain high for the time being after the partial oil embargo against Russia decided by the EU.