OPEC and other producers including Russia are in final talks for an agreement, t...
MOSCOW - OPEC and other producers including Russia are in final talks for an agreement, that may be signed in early July, to cooperate on oil supplies on a long-term basis, Japan’s Nikkei reported, citing Russian energy minister Alexander Novak.
The Organization of the Petroleum Exporting Countries , Russia and other producers have since Jan. 1 implemented a deal to cut output by 1.2 million barrels per day to support prices. But the Nikkei said the group was trying to make OPEC+ a permanent framework under an accord to be signed at the next meeting.
Crude oil prices jumped 4% on Thursday after suspected attacks on two oil tankers in the Gulf of Oman sparked tensions between the United States and Iran and raised concerns over the safety of oil shipments through one of the world’s busiest sea lanes.
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