Velina Tchakarova on Western Sanctions and Russian Oil

Velina Tchakarova, a respected analyst in global strategic affairs, has recently published an insightful article for Attaqa, focusing on the current reality and impact of Western sanctions on Russian oil. This timely piece delves into the complexities surrounding the oil market, particularly in light of recent economic and geopolitical developments.

Key Points from Tchakarova’s Analysis:

  • Urals Crude Oil Pricing: The article notes that the average price of Urals crude oil stood at $72.48 per barrel in November, a critical indicator of Russia’s oil revenue under the shadow of sanctions.
  • Market Predictions: Tchakarova discusses the market’s anticipation of a potential oil surplus in early 2024, a situation that could have significant implications for global oil prices and economies.
  • OPEC+ Dynamics: A notable point in the article is the lack of harmony within OPEC+, especially among African countries, regarding additional cuts. This discord highlights the challenges in achieving a unified approach to global oil production and pricing strategies.

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