Summary: World oil price volatility affects the economies of the Organization of Petroleum Exporting Countries as well as their non-OPEC counterparts, but little attention is paid to non-OPEC economies, which don’t have a formal bloc to lobby for them. But non-OPEC energy exporters have taken a more significant role as oil demand has increased since the late 1990s. OPEC is no longer the main exporter, and the increased demand for oil, due in part to the rapid economic development of India and the People’s Republic of China, has led to a greater diversification of suppliers. Research by the Asian Development Bank Institute looks at one of the largest non-OPEC oil-exporting countries, the Russian Federation. Read the transcript https://bit.ly/2JB3Wmn Read the report https://www.adb.org/publications/impact-world-oil-prices-energy-exporting-economy-including-monetary-policy About the authors Victoriia Alekhina is a PhD candidate of economics at Keio University, Tokyo. Naoyuki Yoshino is dean of the Asian Development Bank Institute. Know more about ADBI’s work on oil https://bit.ly/2MkPn8z
