Will Politics Push Future Oil Prices Higher?
Oil held above $50 a barrel amid uncertainty over Russia’s willingness to join OPEC efforts to stabilize the market. Futures were little changed in New York after declining 1.1 percent Tuesday. Russia’s largest producer Rosneft PJSC questioned the need for it to reduce output, according to Reuters, after President Vladimir Putin had earlier said his nation would join the Organization of Petroleum Exporting Countries in limiting production. The comment from Rosneft Chief Executive Officer Igor Sechin doesn’t contradict Putin’s stance on a supply deal, the Kremlin said. Union Group Chairman and Founder Juan Sartori discusses with Anna Edwards and Manus Cranny on "Bloomberg Daybreak: Europe."