As OPEC and non-OPEC oil producing countries meet in Vienna there are concerns that Russia could up-end plans to extend a deal to increase output cuts due to domestic pressures.
The current deal, between OPEC and non-OPEC producers including Russia, is set to expire in March, although it is widely expected to be extended until the end of 2018 — not least of all because Russian President Vladimir Putin suggested this himself in October.
Since then, however, there have been rumors of jitters in Russia's domestic oil industry and pressure being exerted on Putin not to allow the extension to go on for so long, making the meeting in Vienna and Russia's participation in it crucial for markets.
Analysts believe there are ways that the group could allay Moscow's concerns.
Amrita Sen, chief oil analyst at Energy Aspects, told CNBC on Wednesday that it is possible for Russia to ask for more clarity on when the deal would end and how that could be managed.
"I think they (the Russians) are also backing a nine-month extension but all they're saying is that it's less easy for them. They don't have one big oil company that they can just crank up production (when the deal ends). They probably need a bit more guidance on whether the market should tighten by such-and-such a time and how we're going to deal with it," she said.