Title should read "Russia hopes Saudis will propose global oil production cut". With Iran coming back into the world market, Saudi Arabia has an interest in ke

Title should read "Russia hopes Saudis will propose global oil production cut". With Iran coming back into the world market, Saudi Arabia has an interest in keeping prices low to prevent Iran from pulling in billions in oil revenue. Further, there's a hard limit on how high prices can climb now that natural gas wells in North America (and elsewhere) are ready to resume production as soon as the price warrants it.