We’ll Need Oil for Decades to Come—and OPEC Needs the High Price

Jan 31, 2023
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Also published in The Hill
About the Authors
Simon Henderson
Simon Henderson

Simon Henderson is the Baker Senior Fellow and director of the Bernstein Program on Gulf and Energy Policy at The Washington Institute, specializing in energy matters and the conservative Arab states of the Persian Gulf.

Articles & Testimony

As the cartel’s top players discuss their future production goals, Western leaders are becoming increasingly concerned that oil policy will be warped by Moscow’s desire to grind out a victory in Ukraine and punish Kyiv’s backers.

The non-story of the week is—or rather, should have been—the OPEC+ meeting of the world’s top oil exporters, who meet virtually on Feb. 1 and are expected to make no change in their production. The calming perception expected of this meeting probably changed on Monday, when the Kremlin announced that President Vladimir Putin held a telephone conversation with Saudi Crown Prince Mohammed bin Salman “to discuss cooperation within the group...in order to maintain oil price stability.” Whatever Putin’s motives are, they are unlikely to be as charitable as “maintaining price stability”...

Read the full article on the Hill website.

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