Russia Says Agrees With Saudi Arabia to Extend OPEC+ Oil Production Cuts

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    Russian President Putin said that ahead of the…



    OPEC Barkindo says today’s oil price slide is an anomaly

    We don’t anticipate recession in global economy
    OPEC more optimistic on oil market than other agencies
    OPEC+ cooperation charter is not a treaty, it is for eternity
    OPEC statute is supreme to OPEC+ cooperation charter

    WTI trades down 59-cents to $58.49 Brent down 71-cents to $64.37 att he time of comments


    OPEC has agreed on draft cooperation charter with OPEC+ Saudi oil minister, Khalid Al-Falih

    Inventory overhang is 240 million barrels when measured against 2010-2014 average
    Says 9-month extension is to prevent 100 mil barrels build-up
    Says that all countries have promised to improve on compliance to cuts
    Says OPEC+ still working on which inventory metric to be used in the charter

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