Valdai Discussion Club
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πŸ•― The Foundation for Development and Support of the Valdai Discussion Club expresses its condolences to the family and friends of Mohammad Sanusi Barkindo, Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC).

We remember and appreciate working with him, in particular, at the 16th Annual Meeting of the Valdai Discussion Club in 2019.

#OPEC Secretary General Mohammad Sanusi Barkindo has died in Nigeria at the age of 64.

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πŸŽ₯ In the last three years, the oil market became stable mostly thanks to the cooperation between #OPEC, Russia, and other non-OPEC powers, Mohammad Sanusi Barkindo, Secretary General of the organization, said in an interview for the Valdai Discussion Club within the framework of its 16th Annual Meeting in 2019.

β€œRussia became a reliable bridge between OPEC and non-OPEC,” he asserts, β€œand we have developed close working relationships with the Russian Federation at both political and technical level.”

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πŸ“· Session 4 of the Valdai Club 12th Middle East Conference, titled β€œKey Energy Trends: OPEC+, Russia’s Role, Reformatting the Global Market”

Photo gallery.

The video of the session is available via this link.

#mideastvaldai #Middleeast #OPEC

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πŸ“· Session 5 of the Valdai Club 12th Middle East Conference, titled β€œThe Age of Sovereignty: Key Middle Eastern Countries’ Foreign Policy Priorities”

Photo gallery

The video of the session is available via this link.

#mideastvaldai #MiddleEast #OPEC
⛽️ OPEC+ is an expanded format of OPEC, formed in November 2016, which includes 10 more countries led by Russia (14% of world oil production) to regulate the oil market. OPEC+ controls 55% of the world's oil supplies and 90% of proven reserves.

OPEC+ countries in October 2022 reduced the quota for oil production by 2 million barrels per day and extended the deal until 2023.

Especially for the Valdai Club 12th Middle East Conference, we prepared an infographic on OPEC+. The high-res infographic is available on the website.

#mideastvaldai #valdai_infographics #OPEC #oil

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πŸŒπŸ›’οΈ The establishment of OPEC+ in 2016 was a part of the global system entered a transitional phase. OPEC+ reflects the change that has occurred in the matrix of major powers and the transformation of China and Russia into two vertices of the triangle of the global system along with the United States; the global system has become multi-sided.

On the other hand, the establishment of OPEC+ reflects the increase in energy supplies in the global market, after the discovery of shale gas in the United States, and the resulting decline in oil prices. We created an infographic on oil production from OPEC+.

#valdai_infogaphics #OPEC #oil

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