The return of Russian crude

For the first time in years, US and Russian politicians are sounding consistently bullish about the prospects for co-operation in developing Russia’s massive crude oil reserves. The first formal US-Russian oil summit, held in Houston in October 2002, was attended by energy ministers from both countries and explored the potential for technology, trade and investment in Russia’s burgeoning oil sector.

Russian crude production has increased significantly over the past few years – so much so that