HomeMagazine2016January 2016, Vol. 243, No. 1Russian-OPEC Coordinated Production Cut Remains Long Shot

January 2016, Vol. 243, No. 1

Features

Russian-OPEC Coordinated Production Cut Remains Long Shot

The rumors of a coordinated production cut between OPEC and Russia continue to grow more serious. The latest comes from the Russian energy minister Alexander Novak, who insisted that Russia will hold talks with OPEC in February on a possible agreement to reduce output. “There are very many questions, on checking cuts, from what base to count from. In order to start working through these issues, we need general agreement, it’s too early to talk about that. That’s the subject of the meeting and discussion (in February),” Novak told reporters, according to TASS. The headline figure: a 5% production cut across the board for all participants. That’s what Saudi Arabia floated last year. When ask

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