Highlights Increase in oil output would require drilling investment Russia has pushed for increase to output quota in past Gap narrows between Russian, Saudi Arabian breakeven oil prices Lower fiscal breakeven oil prices may help Russia and OPEC’s core Persian Gulf producers align their production policy in 2022 despite lingering concerns in Moscow about the demand outlook and availability of spare capacity, according to analysts. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now S&P Global Platts Analytics estimates Saudi Arabia’s fiscal breakeven price at $79/b Brent in 2021, down from $87/b in 2020. It estimates Russia’s breakeven price at $69/b Brent for 2021, also down from $76/b in 2020, but well above the prepandemic average of $52/b in 2018-19. “The narrowing of the two OPEC+ leaders’ respective fiscal requirements likely portends greater cohesion on production strategy than would have been the case even […]