Expert predicts OPEC+ collapse, hurting Russia's oil profits

The OPEC+ oil cartel may collapse by the end of the year, potentially eliminating Russia's ability to profit from oil sales, according to an expert. Russian oil market expert Mikhail Krutikhin predicts the disintegration of OPEC+ due to shifting production strategies, with Saudi Arabia likely anticipating the end of production cuts. This shift could lead to increased global oil supply and make it difficult for Russia to compete. This potential collapse follows decisions by several OPEC+ nations, including Russia and Saudi Arabia, to revise oil production plans. The expert suggests Saudi Arabia is carefully managing the transition to avoid a sudden market disruption.