Putin Says Russia and Saudi Arabia Will Maintain Oil Cuts for as Long as 9 Months
- Leaders from both nations met in Osaka ahead of OPEC+ talks
- Putin said he’s agreed with crown prince to keep current curbs
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Russian President Vladimir Putin struck a deal with Saudi Crown Prince Mohammed Bin Salman to extend the OPEC+ agreement at current production levels for the rest of this year and potentially into early 2020.
Speaking at the Group of 20 summit in Japan, the Russian president said the extension of output cuts -- which expire at the end of June -- could be for six or nine months. His comments make the outcome of next week’s OPEC+ gathering in Vienna all but a foregone conclusion, and further reinforce Putin’s role as the ultimate policy maker within the group.