There is almost unanimous agreement in OPEC to extend oil-production cuts, and holdout Russia could come on board before the deal’s expiry at the end of June, according to Saudi Arabia.
Saudi Energy Minister Khalid Al-Falih and his Russian counterpart, Alexander Novak, may both be in Japan for the Group of 20 Summit this month, “in which case we will have an opportunity to further calibrate our positions,” Al-Falih said in an interview with Russian news service Tass.
Oil has risen after the two ministers suggested on Friday that they would continue to manage the market, though they made no specific commitments on volumes.
