Saudis ‘Sure’ of OPEC+ Cuts Extension After Talks With Russia

Novak says the oil market isn’t in a positive situation
Al-Falih says question remains whether to adjust curbs

Khalid Al-Falih, left, and Alexander Novak, on June 7. Photographer: Andrey Rudakov/Bloomberg

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By Annmarie Hordern, Dina Khrennikova, and Olga Tanas

June 7, 2019 at 8:05 AM UTC

Updated on

June 7, 2019 at 9:40 AM UTC

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Saudi Arabia’s top oil official said he was sure that OPEC+ will extend production cuts into the second half of the year after holding talks with Russia.

Ministers from the countries voiced similar concerns about the impact of a slowing global economy on oil prices and talked up the benefits of cooperation. The unified front presented on Friday appeared to resolve signs of division visible in the previous days.