Russian-Saudi agreement to significantly reduce oil production


Algeria today – Reuters quoted an OPEC source as saying that during the emergency meeting, Russia and Saudi Arabia agreed on big cuts to oil production in order to support the markets.

He added, that Moscow and Riyadh removed the main obstacles that prevented agreement on new cuts in oil production.

The agency quoted other sources, that “OPEC +” and other producers will discuss discounts of up to 20 million barrels per day.

Oil prices jump by 10%

On Thursday, oil prices jumped by about 10%, after leaks said that Moscow and Riyadh had agreed to major production cuts to support oil markets.

Reuters said that Brent crude prices rose by $ 3 a barrel after the start of the OPEC conference and other oil exporters

This content (Algeria is today a source in “OPEC”: a Russian-Saudi agreement to significantly reduce oil production) is transmitted by a search engine Egypt 24 It was transferred as it is from the source (Al-Bilad newspaper), and neither the site’s view nor the editorial policy is expressed, but the responsibility and authenticity of the news lies with the original publisher, the country newspaper.


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