Other Oil Producers


The graphic is pulled from an article on Russia and Saudi Arabia agreeing to hold production at current levels. http://www.bloomberg.com/news/articles/2016-02-16/saudi-arabia-and-russia-agree-oil-output-freeze-in-qatar-talks

Holding production at current levels, of course, does not cause the price of oil to go up, but may limit the amount it will decline. Added to that, Iran is still increasing production and Iraq might if it could ever regain control of Mosul and surrounding areas. There is still considerable pressure to further reduce the price of oil.

I am no expert on the oil market, so I will leave making more precise incorrect predictions to those experts. But I gather the price of oil will not be climbing stratospherically upwards for the next year or two. This puts significant economic, budgetary, and of course, political pressure on a number of major oil producers. Russia is not alone in this regard.

Our focus has been on Russia, but there are a number of other countries clearly being impacted by the long-term decline in oil prices. The countries on that list that get my attention are:

  1. Saudi Arabia
  2. Iraq
  3. Iran
  4. Venezuela
  5. Nigeria
  6. Algeria
  7. Bahrain (which is not on that list)
Share this:
Christopher A. Lawrence
Christopher A. Lawrence

Christopher A. Lawrence is a professional historian and military analyst. He is the Executive Director and President of The Dupuy Institute, an organization dedicated to scholarly research and objective analysis of historical data related to armed conflict and the resolution of armed conflict. The Dupuy Institute provides independent, historically-based analyses of lessons learned from modern military experience.
Mr. Lawrence was the program manager for the Ardennes Campaign Simulation Data Base, the Kursk Data Base, the Modern Insurgency Spread Sheets and for a number of other smaller combat data bases. He has participated in casualty estimation studies (including estimates for Bosnia and Iraq) and studies of air campaign modeling, enemy prisoner of war capture rates, medium weight armor, urban warfare, situational awareness, counterinsurgency and other subjects for the U.S. Army, the Defense Department, the Joint Staff and the U.S. Air Force. He has also directed a number of studies related to the military impact of banning antipersonnel mines for the Joint Staff, Los Alamos National Laboratories and the Vietnam Veterans of American Foundation.
His published works include papers and monographs for the Congressional Office of Technology Assessment and the Vietnam Veterans of American Foundation, in addition to over 40 articles written for limited-distribution newsletters and over 60 analytical reports prepared for the Defense Department. He is the author of Kursk: The Battle of Prokhorovka (Aberdeen Books, Sheridan, CO., 2015), America’s Modern Wars: Understanding Iraq, Afghanistan and Vietnam (Casemate Publishers, Philadelphia & Oxford, 2015), War by Numbers: Understanding Conventional Combat (Potomac Books, Lincoln, NE., 2017) , The Battle of Prokhorovka (Stackpole Books, Guilford, CT., 2019), The Battle for Kyiv (Frontline Books, Yorkshire, UK, 2023), Aces at Kursk (Air World, Yorkshire, UK, 2024), Hunting Falcon: The Story of WWI German Ace Hans-Joachim Buddecke (Air World, Yorkshire, UK, 2024) and The Siege of Mariupol (Frontline Books, Yorkshire, UK, 2024).
Mr. Lawrence lives in northern Virginia, near Washington, D.C., with his wife and son.

Articles: 1516

Leave a Reply

Your email address will not be published. Required fields are marked *