Russian oil production is remarkably resilient to significant price changes, but significant political headwinds may lead to a drop regardless of economics.
Sergey Vakulenko
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Key Conclusions:
“America and Europe need to look at Russia as an emerging capitalist society rather than a failed democratic polity. They would understand Russia better if they used the vocabulary of practical economics rather than of political science,” writes Trenin. “They would have no more sincere friends in Russia than people wishing to do business with the West….This won’t make dealing with Russia always a pleasure, but it will make for a much more predictable and productive future.”
###
Notes:
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
Russian oil production is remarkably resilient to significant price changes, but significant political headwinds may lead to a drop regardless of economics.
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