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CORRECTED - Saudi Arabia, Russia push to extend oil output cuts until March 2018

Reuters  |  BEIJING 

By Chen AizhuBEIJING (Reuters) - (Corrects headline and story to show Saudis and Russia agreed on the need to extend supply cut, instead of saying they agree to extend the supply cut. This error appeared in previous updates of this story)Saudi Arabia and Russia, the world's two top oil producers, agreed on Monday on the need to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up prices.The timing of the announcement ahead of OPEC's next official meeting on May 25 and the statement's strong wording surprised markets, and the comments are ...

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First Published: Mon, May 15 2017. 19:30 IST