| For a few minutes, at least, there was a glimmer of hope for the world’s struggling oil producers. After months of opposing any production cuts, Russia said on Thursday it would be willing to discuss output levels with OPEC -- opening the door for a deal with Saudi Arabia to revive oil prices hovering at $30 a barrel.
Brent crude, the global benchmark, surged nearly 8 percent to $35.84 a barrel almost immediately. But the joy for oil producers -- and some traders -- was short-lived, and the price slid back to $34. Within minutes, OPEC delegates said they knew nothing about a potential meeting with Russia next month, let alone output cuts...............................................Full Article: Source
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