Russia, Saudi Arabia overcome differences holding up big oil cut deal: Dmitriev

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Russia and Saudi Arabia have overcome differences that had presented potential hurdles to a plan for major oil output cuts aimed at shoring up crude prices hammered by the coranavirus crisis, the head of Russia’s wealth fund said on Thursday.

Kirill Dmitriev, who is also one of Moscow’s top oil negotiators, told Reuters that moves to cut oil production needed the support of OPEC+, a group that includes Saudi Arabia and Russia, as well as other producers outside the informal grouping.

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