Cartel is engaging in a high-stakes diplomatic gamble that risks a further price crash if it backfires. FMTNews Opec Price Russia
Headquarters of the Organization of the Petroleum Exporting Countries in Vienna.
Opec and its allies are meeting in Vienna Friday, following Thursday’s ministerial meeting in which the cartel agreed to a supply reduction of 1.5 million barrels a day. Russia, however, wasn’t present at that gathering and wants to maintain current output cuts until June. Members of the group had earlier warned that a failure to join may lead to the coalition abandoning curbs altogether.
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