Russia’s Possible Deal with OPEC: Will Oil Prices Rise?

Russia’s Possible Deal with OPEC: Will Oil Prices Rise?

On November 19, Russia said that it might enter a partnership with OPEC on December 6. The partnership might bring relief to energy investors amid lower oil prices this month. So far, US crude oil prices were 25.8% lower than their multiyear high of $76.41 per barrel on October 3. Last week, the news of a possible production cut limited oil’s fall.