Faced with this month’s price slump in crude to a 12-year low, there’s a 60 percent chance that Russia won’t attempt to exert more influence over oil prices.
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Russia will probably steer clear of efforts to push up oil prices by cooperating with OPEC or reducing output, according to a Bloomberg survey of economists. Faced with this month's price slump in crude to a 12-year low, there's a 60 percent chance that Russia won't attempt to exert more influence over oil prices, according to the median of 22 estimates in the survey. Russia said that although it's prepared to discuss output with OPEC, no action is currently planned.Saudi Arabia is keen to defend market share and Russia's inability to cut production in winter months makes coordination difficult. Until this week, Russia had repeatedly stated its goal of keeping oil production stable even as prices tumbled.
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