Weekend oil: OPEC, Russia reaffirm oil-production cuts until year end, maybe beyond

Russia and Saudi Arabia comments over the weekend:

Saudi Arabia's Oil Minister Khalid al-Falih:

• "We should not limit our efforts to 2018. We need to be talking about a longer framework for our cooperation"
• "As we approach the re-balancing by the end of 2018, we need to extend the framework but not necessarily in the production levels"

Russia's Energy Minister Alexander Novak said he agreed to continue cooperation with OPEC.

More for the oil traders:

• Reuters: Oil producers will cooperate beyond 2018, says Saudi Arabia
• Bloomberg: OPEC, Russia Signal Global Oil Alliance May Endure Past 2018
• Wall Street Journal (may be gated): Saudis Push for OPEC Oil Efforts Into 2019