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Abu Dhabi, UAEThursday 21 June 2018

Business Extra podcast: Russia, Saudi Arabia and the state of oil markets

With top oil producers Russia and Saudi Arabia indicating coordinated increases in supply, we analyse what it might mean for prices

Alexander Novak, Russia's energy minister, left, and Khalid Al-Falih, Saudi Arabia's energy and industry minister, are pictured during an Opec meeting in Vienna, Austria, on November 30, 2017. Akos Stiller / Bloomberg
Alexander Novak, Russia's energy minister, left, and Khalid Al-Falih, Saudi Arabia's energy and industry minister, are pictured during an Opec meeting in Vienna, Austria, on November 30, 2017. Akos Stiller / Bloomberg

As the world's top producers of crude oil, Russia and Saudi Arabia are at the crux of shaping the markets. Both countries have indicated an increase in supply, as Saudi energy minister Khalid Al Falih said at last month's St Petersburg International Economic Forum.

So, how would a coordinated effort by the two nations impact the markets?

In this week's Business Extra podcast, host Mustafa Alrawi is joined by Robin Mills, CEO of Qamar Energy and author of The Myth of the Oil Crisis, to discuss all aspects of oil markets — from Opec and non-Opec joint action, to the impact of sanctions on Iran, and the recent focus on the downstream sector.

Listen below, and subscribe to Business Extra for free on Apple Podcasts.

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