OPEC+ cooperation and its impact on the situation in the world economy

The situation in the energy sector of the world economy is characterized by the transition from technologies of the 5th technological order to the 6th technological order. Investments in the development of renewable energy sources and green energy technologies are increasing. This determines the long-term downward trend in oil prices on the world market. The 2020 pandemic has further reduced oil consumption and spurred the economy to switch to renewable energy sources. The advantage of renewable energy sources is their proximity to end users, low level of environmental damage. Russia has joined the OPEC + agreement to maintain oil prices by reducing oil production. However, in the medium term, part of the country's oil and gas revenues should be invested in the development of renewable energy sources and related technologies.