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2017-12-01 12:55:00

SAUDIS & RUSSIA LEADERSHIP

SAUDIS & RUSSIA LEADERSHIP

PLATTS - Saudi Arabia reasserted its leadership of the oil market Thursday after brokering its desired extension of output cuts with OPEC and non-OPEC partners through to the end of 2018.

The deal -- agreed after nearly nine hours of negotiations in Vienna -- kept its new ally Russia onside and prevented a sell-off that many analysts had feared.

To help beef up the deal's impact, Nigeria and Libya were issued a combined 2.8 million b/d output cap. Both nations had previously been…

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Tags: RUSSIA, OIL, OPEC, SAUDI
Chronicle:
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