MOSCOW: The global oil production deal clinched at the weekend will help to establish a price floor and help to save millions of jobs in the ...
clinched at the weekend will help to establish a price floor and help to save millions of jobs in the United States, senior Russian officials said on Monday .
Combined with G20 input, the leaders of Russia, the United States and Saudi Arabia engaged in a series of phone calls last week to help to iron out the deal that could remove as much as 20 million barrels per day of oil from the market - roughly a quarter of all supplies. Moscow's obligations under the deal are to cut its output to 8.5 million bpd from May to June, bringing it to the lowest level since 2003.
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