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Volatility, which is really harmful for the global economy. majid, as we know, russia is part of what they call the opec+ group. but i'm wondering, given the war, do you think the relationship between opec and russia will change? so that, you know, partnership the opec+, it's russia and several other producers who weren't previously in opec. that's about collaborating or cooperating to manage global energy price stability. and, actually, we sawjust two years ago, during the covid pandemic, that the whole world relied on that and actually joined in that alliance. the us government encouraged us...

Supply can be re—routed into europe? and it looks fairly constrained, hence the real concern about what happens in a russian gas cut off scenario. on the oil side, there is some additional supply out there, not a lot, but the situation for gas looks much more precarious. well let's go back to royal, you mentioned president biden�*s visit to the middle east, to saudi arabia, a big member of course of the opec group. can the opec group, you say it's tight, supply is tight but can they do more? i mean, saudi arabia, if you look at what they say is essentially their maximum spare capacity, or ...

Of thousands of barrels from places like the uae. but it's not much overall in the larger scheme of things. and the issue is it takes time and a lot of investment to add to that capacity. and also, you don't want to be losing all the spare capacity because it's kind of the balancer that leads to stability in prices. if all the spare capacity goes in the system, you end up with much more price volatility, which is really harmful for the global economy. majid, as we know, russia is part of what they call the opec+ group. but i'm wondering, given the war, do you think the relationship between ope...

Ago, during the covid pandemic, that the whole world relied on that and actuallyjoined in that alliance. the us government encouraged us companies to participate in that when oil prices crashed and actually hit briefly negative levels. so it's been important for global energy stability. it's not about, you know, necessarily friendship or political alliance. we've seen in the past opec members sometimes at war with each other, iraq and iran during the 1980s for an eight year war, and yet managed to continue to collaborate partner within opec. i'd also like to just take the opportunity to rememb...

Producers, have really said that they are looking to keep russia part of the group. they're not looking to break with moscow, despite the escalating western sanctions, despite their requests from countries like the united states for more opec barrels. so i think that opec are going to try to find a way to put some more supply on the market, while keeping russia within the producer group. but one source of potential tension that we should be watching for over the coming months is that russia has been discounting their barrels in the key asian markets. they are now the top supplier in india. the...