Russia, quota issues undercurrents at OPEC meeting

The last meeting of the Organization of Petroleum Exporting Countries proved a predictable, humdrum affair.Not so the group's next ministerial meeting, slated for Sept. 24 in Vienna. That event features some interesting undercurrents that could have long-term impacts on oil markets. A new approach to OPEC quotas could be on the table. Not on the table but just as significant is the prospect of détente between OPEC (notably Saudi Arabia) and the group's most worrisome competitor, Russia.Quota changesAccording to sources contacted by this writer, OPEC may be beginning to move toward new guidelines for adjusting its quota system.OPEC governors meeting at the end of August have d...

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