Russia, Saudi Oil Ministers Meet as OPEC Cut Looms

OPEC has agreed to cut oil production to address oversupply and stabilize prices. The plan aims to push prices up and reduce short selling in the market. Saudi Arabia is working to involve non-OPEC producers like Russia, but challenges remain as Russia is undecided on cuts. Iraq complicates matters by refusing cuts due to its fight against ISIS and disputes OPEC's production figures. Exemptions are given to countries like Iran, Libya, and Nigeria due to unique circumstances. OPEC must resolve these issues before their meeting on November 30th in Vienna.

What role does Russia play in the current oil production discussions?

What exemptions has OPEC given to certain countries regarding production cuts?