Exclusive: Saudi Arabia, Russia agreed in Sept to lift oil output, told U.S. | Reuters

Exclusive: Saudi Arabia, Russia agreed in Sept to lift oil output, told U.S. | Reuters:

Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices and informed the United States before a meeting in Algiers with other producers, four sources familiar with the plan said.

U.S. President Donald Trump has blamed the Organization of the Petroleum Exporting Countries (OPEC) for high crude prices and called on it to boost output to bring down fuel costs before the U.S. congressional elections on Nov. 6.

The deal underlines how Russia and Saudi Arabia are increasingly deciding oil output policies bilaterally, before consulting with the rest of OPEC.