, Columnist
Face it, OPEC. Russia Is No Longer Your Friend
Russia isn’t pulling its weight on output cuts. So why should OPEC let it throw its weight around?
It was nice while it lasted, but it’s time to move on.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
Has OPEC reached the point where the benefit of bringing in outsiders to achieve its goals is outweighed by the difficulty of managing the expanded group? It certainly seems so.
Six months ago, the group couldn’t reach a deal on production levels without help from Russia. Now it can’t even agree on the date of a meeting, and Russia seems to be the problem. So much for any hope members might have of putting a floor under oil prices.