Ukraine's Energy Challenge
OP-ED
Chris Weafer: Russia’s future jeopardized by OPEC’s decline
Oil ministers from member states of the Organization of Petroleum Exporting Countries (OPEC) will meet in Vienna on Thursday to try to formulate a response to the recent sharp fall in the price of crude oil and, more fundamentally, to the threat posed to group's future as oil supplies from other countries, especially from the United States, continue to rise. This is undoubtedly OPEC's most important meeting in decades, and to a large extent, decisions taken by OPEC, whether this week or in the coming months, will have a direct impact on several of Russia's key economic indicators and how the country survives Western sanctions.