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Thursday, 04/09/2020 10:40:03 AM

Thursday, April 09, 2020 10:40:03 AM

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Saudi Arabia, Russia reach deal on deep oil output cuts

- Reuters
Apr. 9, 2020 10:37 AM ET By: Carl Surran, SA News Editor

Oil prices ramp up following reports that Saudi Arabia and Russia have reached a deal on a deep production cut.

OPEC and others are discussing cuts as large as 20M bbl/day, Reuters reports, citing an unidentified Russian source and an OPEC source.

The reported deal comes as a virtual meeting between OPEC and its allies kicked off.
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