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OPEC, Russia becoming unlikely allies

Posted on 30 April 2015

The slump in oil prices is leading to an unlikely convergence of interests between Russia and OPEC which have traditionally seen each other as rivals. Russia will meet with OPEC on June 2-3 to discuss production adjustments in order to arrest falling oil prices, Energy Minister Alexander Novak said in Moscow.
The meeting will be held before the Organization of the Petroleum Exporting Countries gathers in Vienna on June 5 to discuss the global market. According to Russian officials, the country is on course to lose $180 billion this year from slump in oil prices………………………………………..Full Article: Source


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