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      Home >> News

      Brent up 3% at one-year high as Putin says Russia to join OPEC deal

      Investing.com – Brent crude Monday hit its highest levels since July 2015 as Putin says Russia would join OPEC output cut deal.
      Brent crude was up $1.60, or 3.03%, at $53.53 at 11:00 ET. U.S. crude was up 3.33% at $51.47.
      Putin said in Istanbul that Russia would support an OPEC deal to address global supply glut.
      Earlier Monday, Saudi Energy Minister Khalid al-Falih expressed optimism OPEC would agree details of accord in Vienna next month.

      OPEC agreed to cut supply by about 0.7-2.2.% to 32.5-33 mn b/d at an informal meeting in Algiers last month.