Part 5/7:
Declining Global Oil Prices: The World Bank anticipates a drop in oil prices from around $80 per barrel to an average of $73 by 2025. The expected decline in prices is largely attributed to China's economic challenges and an increase in supply from OPEC countries.
Pricing Disputes with China: As Russia seeks to pivot its energy exports to China, it faces ongoing disagreements over gas pricing, severely limiting its ability to fulfill previous export ambitions. The Power of Siberia pipeline has a capacity to transport only a fraction of Russia’s historical exports to Europe, and despite plans for expansion, construction remains delayed due to pricing disputes.