Saudi Arabia, Russia remove obstacles over global oil deal

According to resources from the OPEC and Russia stated that Saudi Arabia and Russia have managed to remove the main obstacles to an agreement on new oil production cuts.

Reuters quoted an OPEC and other "Russian" source as saying that OPEC and the other oil producers would discuss significant cuts in oil production of up to 20 million barrels per day (bpd), equivalent to about 20 percent of global supplies.

An OPEC source noted that this is a global agreement.

It was not clear whether the United States would participate, while another OPEC and a Russian source reported that Russia and Saudi Arabia had been able to remove major obstacles to agreeing on new oil production cuts.



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