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Saudi Arabia, the de facto chief of OPEC, has been making an attempt to keep oil above $100 per barrel by pushing for member states to cut production. The kingdom has reportedly signaled that crude could drop as low as $50 a barrel if the Organization of Petroleum Exporting Countries doesn’t commit to reducing oil output. This would create a tough state of affairs for Russia, which is reliant on higher crude costs. “It will take time for the rate of interest to be …