WTI and RBOB are plunging following comments from the Saudi minister that “he doesn’t know” if November meeting will agree on a production cut deal extension, and Russia’s Novak confirmed that there is “no clarity” on a deal extension.
Saudi Arabia will work with Russia to reach a consensus in the next few weeks before the Nov. 30 OPEC/non-OPEC meeting in Vienna, Saudi Energy Minister Khalid Al-Falih says at a meeting with Russian counterpart Alexander Novak in Moscow.