Russia Hesitates on Length of OPEC Oil Cuts Extension
- Moscow isn’t convinced that decision is needed this month
- Different options are on table, including 3-month extension
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OPEC has yet to convince Russia that it’s necessary to reach an agreement to extend oil-output cuts at a meeting in Vienna later this month, as officials and oil bosses in Moscow still haven’t decided how long the production deal should last.
The world’s largest energy exporter still believes it’s too early to announce anything this month, two people with knowledge of matter said. Another issue is a duration of the extension, with options including an additional three months of cuts being considered.