OPEC Panel Backs Extension, Russia Arrives: OPEC Reality Check
- Joint Technical Committee recommends extending to end of 2018
- Russian Energy Minister Alexander Novak arrives in Vienna
Oman Says OPEC Intends to Continue Non-OPEC Dialog
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OPEC and Russia are said to have agreed they should extend oil-supply cuts deeper into next year, but Moscow wants clarity on an exit strategy before giving formal consent.
Almost a year in, and the deal is working. Oil in New York is trading near a two-year high after the curbs helped drain a global glut that has weighed on prices for three years.