Russian Pres. Putin: Russia agrees with Saudi to extend OPEC deal by 6-9 months, Oil seen higher

Dhwani Mehta FXStreet

The Russian President Putin met the Saudi Arabian delegation at the G20 meeting and said that Russia agreed with Saudi Arabia to extend the OPEC+ oil output cuts deal by six to nine months.

Oil bulls are likely to receive a double booster on Monday following the US-China trade truce and the above headlines. WTI could head back towards the $ 60 mark while Brent could re-attempt the 66 handle.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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