Russia, Saudi Arabia mull output cut within OPEC+

Baku. 7 November. REPORT.AZ/ Russia and Saudi Arabia have started bilateral discussions over possible 2019 oil production cuts, TASS news agency reported on Wednesday citing an unnamed source at the Organization of the Petroleum Exporting Countries, Report informs.

Saudi Arabia proposed the cuts, TASS reported citing the source. This issue will be discussed with the Russian companies.

OPEC+ ministerial conference will be held on December 6-7 in Vienna. The participants are expected to sign  a new cooperation agreement starting January 1, 2019. The new agreement will reportedly be permanent.