Russian Oil May Gain a Lot by Giving a Little on OPEC U-Turn
- New output cuts may be ‘not so grim’ for producers: Raiffeisen
- OPEC and its allies are due to meet in Abu Dhabi this weekend
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Russia’s oil industry is feeling the pressure of a possible return of production caps. In fact, by sacrificing a fraction of output, the companies could see their stocks rise.
Fresh output curbs may push crude prices up, benefiting Russian producers just as they did during the cuts that began last year. The Moscow Oil & Gas Index has gained about 40 percent since the initial output pact between OPEC and Russia was reached almost two years ago.