Croft echoed the sentiment shared by other insiders in reaction to commentary in Monday's OPEC Bulletin, a magazine issued by OPEC's Vienna headquarters, saying "this was not a new story." A delegate since clarified the publishing reflected a genuine concern for slipping prices but didn't signal a pending policy change.
Nonetheless, it wouldn't be the first time OPEC has coordinated production moves with a non-member country, and with Russia becoming China's largest oil supplier earlier this year a coordinated cut with OPEC could have huge price ramifications.
For Saudi Arabia, which has long-experienced the pain of low oil prices, cutting production would be more palatable if the country could avoid losing market share to Russia, Croft said.
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"The Saudis are basically saying we're not going to do this alone—Russia, you better join us because you're not going to eat our market share if we cut alone," she said.
While others question why OPEC would be more inclined to agree to a production cut since one hasn't been reached thus far even as oil slipped below $39, Croft highlighted a shift in OPEC sentiment.
"They believed the demand-driven recovery would pull us into the $70s comfortably this year," she said. "So if you're looking at a situation where $75 by mid-2016 looks like a mirage, then you have to go back to your books and say, 'Do we have to cut deeper?' "