Saudi, Russia reach deal on oil cuts, raising pressure on laggards
Dubai: OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil production cuts by one month while raising pressure on countries with poor compliance to deepen their output cuts, OPEC+ sources told Reuters. "Any agreement on extending the cuts is con»»»
Oil gains, with Brent above $40, as hopes rise for output cuts, recovery
TOKYO: Oil rose on Wednesday, with Brent above $40 for the first time since March, as optimism mounted that major producers will extend output cuts and a recovery from the coronavirus pandemic will spur fuel demand.Brent crude futures for August were up 78 cents, or 2 percent, at $40.35 a barrel, b»»»
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