The world’s oil politics is in such a state that one can only sit back and watch the fascinating dynamics of international relations. Before probing into the oil politics of war among the US, Russia, and the OPEC countries, one really needs to have a glimpse at the total contribution of the influencers. By region, the estimated oil production of the Middle East countries is 28.1 million bpd, North America has 23.9 million bpd, Asia Pacific 7.3 million bpd, Africa 7.2 million bpd, South America 5.9 million bpd, and Europe 3.4 million bpd. Considering the oil market exclusively, the sky-high oil prices are the best evidence of the aggravation of the war that almost every country is currently facing. The current dynamics of oil politics point to a favorable situation for Moscow in the coming months.

Source: Libya Today December 07, 2022 18:28 UTC