Putin: Russia and Saudi Arabia to extend Opec+ pact

Saudi Crown Prince Mohammed bin Salman(right) met President Vladimir Putin at the Kremlin. Russia and Saudi Arabia played the opening match of the soccer World Cup, which Russia is hosting.

BUENOS AIRES: Russia and Saudi Arabia agreed to extend into 2019 their agreement to manage the oil market, known as Opec+, although Moscow and Riyadh have yet to agree on any fresh output cuts.

Russian President Vladimir Putin announced the extension after a meeting Saturday on the sidelines of the Group of 20 with Saudi Arabian Crown Prince Mohammed Salman.