OPEC, Russia alliance has long-term future: Saudi adviser

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“Cooperation will continue between Russia and Saudi Arabia,” Ibrahim al-Muhanna said at the International Oil Summit in Paris, stressing that “it is the core of OPEC+ cooperation.”

OPEC, Russia and nine other non-OPEC partners are in the midst of a 1.2 million b/d production cut that has helped oil prices recover from a massive slump in the last three months of 2018. The cut agreement is scheduled to run through June, and the coalition is divided on whether it should be extended….

An excerpt from S&P Global