JRL NEWSWATCH: “Russia Hails Oil Deal It Says Will Save Millions of U.S. Jobs” – Reuters

Offshore Oil Rig file photo

“… .planned supply cuts represent a complete reversal by Russia and Saudi Arabia, which had both threatened to ramp up output in a battle for market share after the previous deal between … OPEC[] and other producers fell apart …. Combined with G20 input, the leaders of Russia, the United States and Saudi Arabia engaged in a series of phone calls … to help … iron out the deal that could remove as much as 20 million barrels per day (bpd) of oil from the market – roughly a quarter of all supplies. ‘… Putin had as many calls with … Trump last week as he had for the whole of last year,’ Kirill Dmitriev, head of Russia’s sovereign wealth fund RDIF [said] …. Trump has said he helped to broker the deal. The United States also agreed to make extra cuts on behalf of Mexico, helping to save the accord ….”

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