Russia Gets New Sway Over Oil Prices


Russia and Saudi Arabia are hammering out the terms of a deal to jointly increase oil production—a move that could cool crude markets and extend, at least for now, a crucial role for Moscow in setting global prices.

The coordination represents the first time Moscow has moved beyond a temporary deal it struck two years ago with Riyadh and OPEC, the cartel of some of the world’s biggest producers, to tighten supplies.


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