Saudi-Russian Oil Fling Becomes a Marriage to Last an ‘Eternity’
- Nine-month extension takes output cuts into a fourth year
- Countries approve new charter formalising OPEC+ grouping
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It was supposed to be a six-month fling, but Saudi Arabia and Russia have instead signed up for eternity.
Complete with poem and celebratory badges, Moscow and Riyadh led two dozen countries in signing a charter to formalize the OPEC+ group that for the past 2 1/2 years has coordinated supply to prop up the price of oil.