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Oil Advances as Russia Shows Willingness to Join Saudis On Cuts

  • ‘Nobody is interested’ in oversupply, Russian deputy says
  • Futures still on track for deepest monthly loss in a decade
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Bloomberg’s Javier Blas reports on dropping oil prices and what could be OPEC’s next move.Daybreak: Americas." (Source: Bloomberg)
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Oil climbed for the first time in three days as Russia expressed a willingness to join Saudi Arabia in curbing global supplies.

Russia wants more predictability and “smooth price dynamics” in world crude markets, Deputy Foreign Minister Sergei Ryabkov said in an interview in Argentina. The remarks presaged a G-20 summit where Russia’s Vladimir Putin and Saudi Arabia’s Mohammed bin Salman are expected to discuss oil supplies ahead of a broader meeting of top petroleum exporters next week.