1. OPEC agrеements • “Algiers Accord” in Seрtember 2016 • “Vienna Agreement” in November 2016 • “Declaration of Cooperation” in December 2016 2. NonOPEC participating countries with a focus on Russia 3. Energу Policies in Russia (with focus on upstream and downstream no need for electricity and environment) 4. The effect of declaration of cooperation on Russia’s energy policies (Russia’s own production cut and the total production cut) 5. Russia is an oil driven economy (cut in production will translate into cut in oil revenues in the short term) 6. Focus on medium to long term (10 to 20 years ahead) 7. Implications for the oil market (in terms of market share, oil price and oil trade as well as oil sales)