Extending Alliance, Oil's Big Two Seek Smooth Exit From Cuts - Bloomberg:
"The pledge Saudi Arabia and Russia made to keep working together on managing the oil market beyond 2018 shows the two energy giants are now looking to engineer an orderly exit from the deal and avoid crashing the prices they’ve worked so hard to revive. “Keeping some level of production cuts into 2019 is the kind of thing that makes sense,” said Robin Mills, chief executive officer of Dubai-based consultants Qamar Energy. “Just abandoning the deal at the end of 2018 would put a lot of oil back on the market.” Russia is prepared to continue cooperating with the Organization of Petroleum Exporting Countries even after the cuts expire, Energy Minister Alexander Novak said in a joint interview with his Saudi counterpart in Oman on Sunday. Saudi minister Khalid Al-Falih said continuing curbs at a different level was one possibility under consideration."
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