Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil output, Russian President Vladimir Putin said, as oil prices come under renewed pressure from rising U.S. supplies and a slowing global economy, ONA reports quoting Reuters.
Putin, speaking after talks with Saudi Crown Prince Mohammed bin Salman, told a news conference the deal - which is currently due to expire on Sunday - would be extended in its current form and with the same volumes.
The Organization of Petroleum Exporting Countries, Russia and other producers, an alliance known as OPEC+, meet on July 1-2 to discuss the deal that involves curbing oil output by 1.2 million barrels per day (bpd).
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