OPEC Panel Wants Cuts Extended, Russia Undecided

The technical panel of the OPEC+ group recommended extending the oil production cuts agreed last December to the end of 2020, the current president of OPEC, Algeria’s oil minister, told media on Sunday. The group last week also recommended deeper cuts—of 600,000 bpd—to last until the end of Q2. Countering the potentially positive implications of this news, however, Oil and Gas Middle East quoted Russia’s Energy Minister Alexander Novak as saying that Moscow needed more time to decide whether it will jump on board. At the…