OPEC Plus or OPEC Minus? Rosneft Points to Oil Cartel in Flux
- Russian state-owned oil company speculates about OPEC+ group
- Iran has repeatedly clashed with the Saudi-Russia coalition
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Since late 2016, the Organization of Petroleum Exporting Countries and other nations, including Russia, Kazakhstan and Mexico, have managed the oil market, giving birth to a group popularly known as OPEC+.
Yet the future of the bloc, which includes arch-enemies Saudi Arabia and Iran, is so uncertain that Rosneft PJSC, the Russian state-run oil company, told investors on Tuesday it didn’t know whether OPEC+ or some other combination of producers would be calling the shots in the near future.