Saudi Arabia, Russia said to agree on 1-month extension of existing output cuts

Author: Justin Low | Category: News

Reuters reports, citing two OPEC+ sources

Again, this just reaffirms their stance that they are on the same page. The issue now isn't about whether Saudi Arabia and Russia can agree to something, it is how they feel about the compliance issue and how big of a hindrance that will be to getting to an agreement.
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Update: The sources add that a 4 June meeting is now conditional on whether countries which have not achieved full compliance in May will compensate for that moving forward.

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