Opec giants agree to prolong oil supply cut
Saudi Arabia and Iraq say the proposed nine-month extension will prop up crude prices and ease a global glut
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Baghdad
OPEC heavyweights Saudi Arabia and Iraq agreed on Monday on the need to extend a global cut in oil supply by nine months in an effort to prop up crude prices, removing a potential stumbling block as producing countries prepare to meet this week.
Saudi Energy Minister Khalid al-Falih said he did not expect any opposition within the Organisation of the Petroleum Exporting Countries (Opec) to extending the curbs for a further nine months, speaking after he met his Iraqi counterpart in Baghdad.
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