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Why Vladimir Putin Won't Be Helping OPEC to Cut Oil Production

  • Past attempts at cooperation proved `dismal and disappointing'
  • Siberian winter makes it difficult to be swing oil producer
Bloomberg business news

Best of the Web: Will Putin Help OPEC Cut Oil Output?

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Few things have more potential to spook the oil market than the prospect of Russia joining forces with OPEC. Speculation that such a move was afoot last month drove crude to its biggest three-day gain in 25 years.

Despite the market buzz, there are sound economic and technical reasons why this is unlikely to happen.