The situation on the market, not the price of oil, determines Russia’s appetite for complying with the OPEC balancing act, the country’s energy minister said. Russia is among the handful of producers party to the Organization of Petroleum Exporting Countries playing a role in the multilateral effort to balance an oversupplied market for crude oil with coordinated cuts in output. Russia is also the largest non-OPEC contributor and a member of a joint committee monitoring compliance. Geopolitical risk, global energy demand forecasts and the late 2017 decision by OPEC to extend the deal for another year helped push crude oil prices to four-year highs. That’s led to some concern that parties […]