Saudi Arabia, Russia agree on 1-month extension of existing output cut deal: report

03/06/2020 Argaam

 

Saudi Arabia and Russia have preliminarily agreed to extend existing record oil production cuts by one month, Reuters reported on Wednesday, citing OPEC+ sources.

 

“Any agreement on extending the cuts is conditional on countries who have not fully complied in May deepening their cuts in upcoming months to offset their overproduction,” said a source.

 

In addition, the June 4 meeting is also conditional on compliance for countries who have not fully complied with the oil cuts, said another source.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.