OPEC and Azerbaijan are in talks about the former Soviet republic joining the group, as the cartel looks to bolster its position amid a surge in U.S. shale oil. An agreement with 10 non-OPEC members, including Azerbaijan, that has cut production and boosted oil price ends this year, and some cartel officials are concerned it won’t be extended.

Source: Wall Street Journal March 20, 2018 17:11 UTC