Russian Official: Not planning to boost oil output amid oversupply - Bloomberg
|Russia is not planning to boost oil output amid oversupply, according to a Russian government official, cited by Bloomberg.
He added that Russia is not holding oil talks with Saudi Arabia yet.
The headlines could likely offer some respite to the oil bulls, who have seen the black gold crash nearly 66% since early January.
Late Tuesday, US President Donald Trump said that he raised the issue of oil prices during his telephonic interview with his Russian counterpart Vladimir Putin. Trump also said that he spoke with the Saudi crown prince.
Oil reaction
WTI sheds over 1% to trade just above the $20 mark, unable to cheer the above headlines.
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