Russia's President Vladimir Putin speaks at a news conference at the end of the G20 summit in Brisbane November 16, 2014. REUTERS/Mikhail Klimentyev/RIA Novosti/Kremlin
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Top Russian oil producer Rosneft's Chief Executive Igor Sechin will fly to Vienna on Nov. 25, just two days before the Organization of the Petroleum Exporting Countries meets in the city to debate the plunge in oil prices.The surprise announcement from the state-backed firm raised speculation that Sechin, a close ally of President Vladimir Putin, will discuss coordinating with OPEC to try stem the near 30 percent drop in oil prices since June.Oil's drop to a four-year low beneath $80 a barrel has raised the focus on OPEC's Nov. 27 meetings, with traders billing it as the most pivotal since the 2008 financial crisis.Oil traders are split over whether OPEC will take action to support the price when it meets next week, as the group struggles to address the rapid rise of shale oil output in the United States.
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