Opec meets Russia, other allies today for new deal to raise oil output


Opec meets Russia and other allies on Saturday to clinch a new deal raising oil output, a day after agreeing on a production hike within the group itself but confusing the market as to how much more oil it will pump. The Organisation of the Petroleum Exporting Countries announced its Opec-only agreement on Friday but gave no clear output targets. Russia and other non-Opec oil producers will now meet Opec in a bid to secure their participation in the pact. Benchmark Brent oil rose by $2.

5 or 3.4 per cent on Friday to $75.55 a barrel. US.

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