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Oman says supports Saudi-Russian agreement on oil cut extension

DUBAI (Reuters) - Oman fully supports a proposal by Saudi Arabia and Russia to extend a global oil supply cut until the first quarter of 2018, its oil minister Mohammed bin Hamad Al-Rumhy said on Monday.

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.

Reporting by Rania El Gamal

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