Saudi Arabia and Russia push for an extension to output cuts

CNBC | Some of the world’s most powerful oil producers had been expected to convene on Thursday, with energy market participants closely monitoring whether the influential group will officially agree to extend their deepest ever round of output cuts.

OPEC kingpin Saudi Arabia and non-OPEC leader Russia were thought to support a one-month extension of the current level of supply cuts, Reuters reported on Wednesday, citing unnamed OPEC sources.

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