April 20, 2018 / 9:39 AM / a month ago

Russia says committed to pact on oil cuts to end of 2018: sources

JEDDAH (Reuters) - Russian Energy Minister Alexander Novak told his OPEC and non-OPEC counterparts in a closed-door meeting on Friday that Moscow was committed to a deal on cutting oil supplies until the end of 2018, sources familiar with the meeting told Reuters.

Russian Energy Minister Alexander Novak waits before a meeting of Russian President Vladimir Putin with Qatar's Emir Sheikh Tamim bin Hamad al-Thani at the Kremlin in Moscow, Russia March 26, 2018. REUTERS/Sergei Karpukhin

The sources were speaking after TASS news agency cited Novak as saying that OPEC and non-OPEC countries might ease oil production cuts as early as this year.

Novak is in the Saudi Arabian city of Jeddah for the meeting of the JMMC, which monitors compliance with existing cuts.

Reporting by Rania El Gamal; Editing by Edmund Blair

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