Russia May Come Between OPEC Nations

Russia May Come Between OPEC Nations
AP Photo/Dmitri Lovetsky

The Organization of Petroleum Exporting Countries (OPEC) and its partners are supposed to meet on June 25 to decide whether or not the cartel will continue its current oil production quotas through the end of 2019. With oil prices in the low $50s for WTI and low $60s for Brent, extending the deal seems like it should be a slam dunk. But, we're just two weeks away from the supposed meeting date and Russia still hasn't even confirmed that it will attend. (Russia's oil minister is claiming a scheduling conflict).

 

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