April 20, 2017 / 8:02 AM / 3 months ago

Russia agrees on preliminary basis to extend oil output cuts beyond June -Kuwait

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ABU DHABI, April 20 (Reuters) - Russia has agreed on a preliminary basis to extend beyond June the agreement among global oil producers to cut output, Kuwait's oil minister Essam al-Marzouq told reporters on Thursday.

"Russia is on board preliminarily....Compliance from Russia is very good. Everyone will continue on the same level," he said.

Marzouq also said the rate of compliance with the agreement among OPEC and non-OPEC producers combined in March was over 90 percent. (Reporting by OPEC team; Writing by Andrew Torchia)

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