Saudi hopes for consensus on future of global oil deal before November OPEC meet

7 Oct 2017   OPEC, Saudi Arabia

Saudi Arabia hopes to reach a consensus with Russia and other major oil producers on the future of a global deal to cut oil output before an OPEC meeting in November, Energy Minister Khalid al-Falih said on Friday. Falih was speaking in Moscow two days after Russian President Vladimir Putin said it was possible that the supply reduction deal, which is due to expire in March, could run to the end of next year, although Russia has not made any commitment. Saudi Arabia has made no firm pledge to extend the deal, but Falih said on Thursday his country was “flexible” regarding Moscow’s suggestion. “I am looking forward to reaching a consensus, working with you in the next few weeks before […]

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