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Watching The World: Will Russia join OPEC?

10/27/2008
Much has been said over recent months about the possibility of Russia joining the Organization of Petroleum Exporting Countries. In the coming months, we’ll probably hear more, too.A week or so ago, Qatar’s Oil Minister Abdullah bin Hamad Al-Attiyah expressed the hope of seeing Russia one day become a full member of OPEC as it would “add value” to the organization.“I wish one day to see Russia as a full member of OPEC,” Al-Attiyah said in an interview. “Russia as the second (largest) oil exporting country (after Saudi Arabia) has a strong role in the oil market, so if Russia were to join OPEC, it would add value,” he said.But even Al-Attiyah...
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