Russia and Saudi Arabia were able to reach an agreement on a new deal to reduce oil production, Reuters reports, citing informed sources. The new agreement, according to the Agency, may provide for a reduction in production by 20 million barrels per day.
RBC notes that after reports of a new deal between Moscow and Riyadh, oil rose in price-on the London stock exchange, a barrel of Brent oil broke through the $36 per barrel mark.
On April 3, Russian President Vladimir Putin said that it is necessary to reduce oil production in the world by 10 million barrels per day.
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