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Russia had been holding off on confirming attendance, perhaps waiting for some kind of US assurances or actions.

Comments from Russia suggest they wont' cut alone. Novak said Russia, Saudi Arabia and the US should contribute.

Novak also suggested to Putin that the cuts should be for the next few months and the gradually brought back online afterwards.

WTI has jumped back to $27.10 from $26.80. It's a small move relative to yesterday but it's also putting the broader market in a better mood.