HDRO - Power To Which People?

• The growing determination of the European Union countries to move away from dependence on imports of Russian oil and gas provides an opportunity for Middle Eastern producers of hydrocarbons.
• But taking advantage of this opportunity will be somewhat difficult. In the short run, the Gulf Cooperation Council countries that can theoretically play an important role in the diversification of European supply sources are unlikely to be able to significantly increase the exports of their hydrocarbons to the EU.
• It is necessary take into account Saudi Arabia’s plans to increase production by 2027, as well as the fact that the current sanctions against Russia will significantly weaken its ability to keep its own oil production from falling in the long term. Down the road, this will make Russia less important for OPEC+.

For further details see: