Russia and Saudi 'very close' to oil deal, Moscow negotiator tells CNBC - Reuters:
Saudi Arabia and Russia are “very, very close” to a deal on oil production cuts, Kirill Dmitriev, head of Russia’s sovereign wealth fund, told CNBC on Monday.
“I think the whole market understands that this deal is important and it will bring lots of stability, so much important stability to the market, and we are very close,” Dmitriev, who is also one of Moscow’s top negotiators, told CNBC.
Dmitriev was first to make a public declaration of the need for an enlarged supply pact, potentially involving producers outside the OPEC+ group that currently consists of the Organization of Petroleum Exporting Countries (OPEC) and some other oil producers led by Moscow.
A previous three-year deal to stabilise oil prices collapsed a month ago, with Saudi Arabia and Russia blaming each other for failure to find a compromise at an OPEC+ meeting in Vienna on March 6.
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