, Columnist
Russia Flexes Its Soft Power Muscles
Extending output cuts deepens its role in global affairs.
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Oil has touched a level above $80 a barrel for the first time since November 2014. OPEC’s inventory target for output cuts has been met.
But even though its oil companies want to turn on the taps and its finance ministry may be worried about prices rising too far, Russia won’t bring its output deal with the group to a juddering halt when the participants meet in Vienna next month. Instead, it will stand alongside its Saudi partner and continue to toe the line on production restraint.