OPEC hopes to include Russia in its pact to cut oil production
OPEC hopes to include Russia in its pact to cut oil production
Saturday the world’s oil market will focus on Vienna. OPEC has already agreed on a joint supply cut, to push up prices. This next meeting is bring non-OPEC producers into the deal, including the world’s largest producer right now — Russia. The meeting will amount to a very public pledge to not drill, but OPEC would do well to trust but verify. Because there’s a very relevant history of energy market cheating.
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