Russia unlikely to deepen oil output cuts: sources - Reuters:
Russia is unlikely to agree to deepen cuts in oil output at a meeting with fellow exporters next month, but could commit to extend existing curbs to support Saudi Arabia, three sources said on Tuesday.
The Organization of the Petroleum Exporting Countries meets on Dec. 5 at its headquarters in Vienna, followed by talks with a group of other exporters, which includes Russia, known as OPEC+.
On the same day, Dec 5, Saudi Arabia is set to announce the pricing for the public share placement of its energy giant, Saudi Aramco (IPO-ARMO.SE), in what it hopes will be the world’s largest IPO. The oil price at the time is likely to be critical to the pricing of the share offering.
The sources told Reuters that OPEC and its allies are worried about weak demand growth in 2020.
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