June 29, 2019 2:35 PM

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Russia, Saudi Arabia agree to extend deal to keep oil production low owing to abundant world supplies

<span style="color: #222222;">Russia and Saudi Arabia have agreed to extend a deal to keep oil production low owing to abundant world supplies. After a G20 summit in Osaka, Russian President Vladimir Putin said the extension might be for six or nine months.<br />'' <br />'' The Organization of the Petroleum Exporting Countries, a cartel of 14 countries pumping one third of the world's oil, is holding a high-stakes meeting in Vienna on Tuesday. The meeting comes against a background of ample global crude supplies, according to both the cartel and the International Energy Agency. <br />'' <br />''The OPEC cartel and its oil-producer nation allies opted in December to trim daily crude output by 1.2 million barrels.</span><br />

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