Russia to extend OPEC+ agreement with Saudi Arabia

Russia and Saudi Arabia have agreed to push ahead their agreement to manage the oil market, i.e. OPEC+, into next year, Bloomberg reported on Sunday.

Russian President Vladimir Putin announced the extension after a meeting with Saudi Arabia’s Crown Prince Mohammed bin Salman on the sidelines of the G20 on Saturday, the Bloomberg report added.

“There is no final decision on volumes, but together with Saudi Arabia we will do it," Bloomberg quoted Putin as telling to reporters about extending the agreement in Buenos Aires.

“And whatever number there will be based on this joint decision, we agreed that we will monitor the market situation and react to it quickly.”