Putin Says Oil Pact With OPEC May Be Extended to End of 2018

5 Oct 2017   OPEC, Russia

President Vladimir Putin said Russia is open to extending a deal with OPEC to curb oil supplies to the end of 2018, though he’ll wait to make a decision until nearer the expiry of the existing pact in March. The comments are the strongest signal yet that the Kremlin is willing to redouble efforts to lift global energy prices, coming as Putin prepares to welcome King Salman Bin Abdulaziz of Saudi Arabia to Russia for the first time this week. OPEC Secretary-General Mohammad Barkindo called them a “very strong endorsement” of the deal. “Based on the realities in March 2018, we will make our decision, but I do not rule out that we may extend” the agreement, Putin said at the Russian Energy Week conference […]

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