Russia has refused to rule out talks with OPEC to stabilize energy markets, according to reports.
It comes after Brent and WTI both dropped 24% on Monday, sinking to more than four-year lows.
Markets had been hoping for an agreement by both countries, and other oil producers, to curb oil output in an effort to bolster prices; their failure to agree led oil prices to crash on Monday. Russia's energy ministry has proposed to hold a meeting with Russian oil companies on Wednesday, Reuters reported, citing two unnamed sources.How did we get here?
The meeting concluded with no directive about the production cuts that are currently set to expire at the end of the month.
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