• Oil Prices Will Crater If Russia Doesn't Back OPEC Extension

    25 days ago - By ETF Daily News

    From Irina Slav : As the November 30 meeting in Vienna of OPEC and its partners in the oil production cut deal nears, worry has returned among traders: one of the brokers of the deal might decide to walk out on the deal instead of participating in another extension.
    We're talking about Russia, the world's top producer and exporter, who many believe played OPEC and specifically its leader, Saudi Arabia, by agreeing to a relatively minor production cut from its nearly record-high rate of production.
    Reports emerged last week that Russia is considering a delay on the decision to extend the...
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  • Oil rises ahead of OPEC meeting as further output cuts expected

    25 days ago - By Reuters

    LONDON - Oil prices rose on Tuesday as traders looked to a meeting next week at which major crude exporters are expected to extend production cuts, though rising U.S. output capped gains.
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