alliance: Putin, speaking after talks with the Saudi crown prince, Mohammed bin Salman, told a news conference the deal which is due to expire on Sunday would be extended in its current form and with the same volumes, according to The Guardian. The Organization of the Petroleum Exporting Countries, Russia and other producers, an alliance known as Opec meet on July 1-2 to discuss the deal, which involves curbing oil output by 1.2 million barrels per day. The Saudi energy minister, Khalid al-Falih, said on Sunday that the deal would most likely be extended by nine months and no deeper reductions were needed. Opec weighs up the risks if Russia goes it alone on prices Read more The United States, the world's largest oil producer ahead of Russia and Saudi Arabia, is not participating in the pact. As far as the length of the extension is concerned, we have yet to decide whether it will be six or nine months. We will support the extension, both Russia and Saudi Arabia.
(news.financializer.com). As
reported in the news.
Tagged under alliance, crown topics.