The Russian government is considering joining the Organization of Petroleum Exporting Countries (OPEC) according to Bloomberg.
The key driver of the Russian trade move is to join forces with other large producers of oil to reduce oil production in order to prop the price of oil as it continues to slide.
Ideally, the oil producers would like to a see oil price of about $60 to $80 a barrel and a cooperative cut of 2.5 million barrels a day global is needed to hit that target.
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