Link to article: www.reuters.com/article/oil-opec-russia-rdif/russias-rdif-new-opec-deal-possible-to-address-demand-if-others-join-idUSR4N2B4012
Of note this isn’t coming out of Alexander Novak, Russia’s MoE who is the official point of contact, or commentary from Igor Sechin who runs Rosnef and is alleged to be the one pushing for exiting the prior deal so it’s tough to say how much support there is internally in Russia at this point, but often times changes in stance are telegraphed or floated by other parties and as the article states:
Dmitriev was one of the Russian masterminds of the original production cuts deal with OPEC.
It’s anecdotal but this is yet another indication that maybe we won’t end up seeing the kind of massive supply flood and multiyeaer reduced oil prices that many have been fearing.
AC