OPEC Puts Russia On The Spot, Again

Oil prices have yet to find a bottom but Saudi Arabia will not budge without a commitment from Russia that it is willing to cooperate with OPEC to balance supply and demand, MEES understands. A Gulf source says that without a Russian contribution, OPEC is unlikely to act alone.

Saudi Arabia and Russia are the top two producers of oil and liquids in the world after the US, which has now overtaken the two oil giants as the world’s leading oil...