Last week, Venezuelan oil minister Eulogio del Pino released a list of states invited to participate in the Organization of Petroleum Exporting Countries’ (OPEC) ongoing negotiations regarding a much-anticipated output freeze. Russia, Egypt and ten other oil exporters made the list, though the high variation between the economic and political standings of the non-OPEC participants add to the already complicated and delicate orchestration of the deal—if there is to be a deal, that is. This past weekend, several of the invited non-OPEC countries sent representatives to Vienna for consultations regarding the terms of a potential freeze deal. No details have been finalized, but those who participated agreed to meet again before the 30 November OPEC summit. Russian President Vladimir Putin and Energy Minister Alexander Novak have recently agreed to freeze output in coordination with OPEC, if the group’s members can flesh out a plan amongst themselves. According […]