OPEC, Russia consider 10-20 year oil cooperation: Saudi Crown Prince

ArticleEnergyMarch 28, 2018 - 7:12:05 AM

OPEC is seeking a 10-20 year deal to cooperate on oil output controls with Russia and other non-OPEC producers, said Saudi Crown Prince Mohammed bin Salman.

OPEC and Russia are working on a long-term deal to cooperate on oil supply curbs that could extend controls over world oil supplies by major exporters for many years to come.

Saudi Crown Prince Mohammed bin Salman told Reuters that Riyadh and Moscow were considering extending an alliance on oil curbs that began in January 2017 after oil prices crashed.

We are working to shift from a year-to-year agreement to a 10-20 year agreement, the crown prince told Reuters in interview in New York...

Source:cnbc.com

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