Russia and Saudi Arabia - Stable Relationship or Passing Fling

Following a deep oil price crash and several years of oversupply, OPEC in cooperation with Russia, managed to oversee a rebalancing of supply and demand on the oil market during 2017-2018. But will the two sides be able to uphold their cooperation in the new approaching market situation?

When: October 12, 8.00 – 9.00. Breakfast is served from 7.30 AM.

Where: Freys Hotel, Bryggargatan 12, Stockholm

Registration: By e-mail to, no later than October 9.

The seminar is free of charge and will be held in English. The seating is limited.


The re-activation of US sanctions on Iran's oil export and signs that US implementation might be even more stringent this time around looks like it might create a supply deficit in the oil market. Simultaneously, the US is demanding that OPEC compensate for Iranian supply losses. This threatens to internalize a conflict with Iran within OPEC as such.

For Russia, as for the OPEC members, this situation opens a short-term opportunity to raise production at stable or even higher prices. At the same time, Russia looks reliant on Iran for upholding several of its key Middle East policy and security interests. Can the balance in the oil market be upheld, or will diverging geopolitical and market interests drive Russia and OPEC in different directions?


Join the Swedish Energy Agency Forum on Global Energy (previously NOG) at a breakfast seminar to get the insights on this highly topical subject from two of the most sought-after experts on the matter; Bassam Fattouh, Director of the Oxford Institute for Energy Studies and Tatiana Mitrova, Director of the Energy Center at Moscow School of Management. The seminar will conclude with a discussion and Q&A moderated by Martin Kragh, Head of the Russia and Eurasia Program at Utrikespolitiska institutet.