Reflections

In Russia, an Energy Freeze Comes With Strings Attached

Mar 3, 2016 | 01:00 GMT
(Stratfor)

Russian President Vladimir Putin announced on March 2 that his country's major oil producers had reached an agreement to freeze production at January's levels -- confirming that Russia would cooperate with a general production freeze agreement made in February by major producers both in and outside OPEC. Although Putin's announcement was significant, global oil markets didn't react, highlighting the reality that Russia's production in January was already at a post-Soviet record 10.9 million barrels per day....

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