ANKASAM Senior Energy Advisor Dr. Cenk Pala Evaluated the Discussions on OPEC to Sputnik News


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Ankara Center for Crisis and Policy Studies (ANKASAM) Senior Energy Advisor Dr. Cenk Pala commented on the impact of the decision to reduce oil production of 9 countries, including Russia and Saudi Arabia, on the Western World for Sputnik News. In his assessment on the subject, Pala said, “The West’s decision to impose an oil embargo on Russia and its desire to impose a ceiling price did not affect Russia, because it compensated by selling cheaply to China and India, that is, by earning from the sale. What is done now is not a cut but a price increase. It is interesting that Iraq also participated in the decision, for example, they want to spread it to the whole OPEC, but this will not prevent America from directing all its lightning towards Saudi Arabia.”