Oil Prices Rise as Russia and Saudi Pledge Continued Production Limits

</p> <p>Russia and Saudi Arabia have agreed to continue limiting oil production until the end of March 2018.</p> <p><span>Oil prices jumped by 2.1 percent following the announcement on Monday morning, with Brent crude reaching $51.88 per barrel.</span></p><div class="vlqet673a7c70a6ded" > <div id="yandex_rtb_R-A-749142-1"></div> <script type="text/javascript"> (function(w, d, n, s, t) { w[n] = w[n] || []; w[n].push(function() { Ya.Context.AdvManager.render({ blockId: "R-A-749142-1", renderTo: "yandex_rtb_R-A-749142-1", async: true }); }); t = d.getElementsByTagName("script")[0]; s = d.createElement("script"); s.type = "text/javascript"; s.src = "//an.yandex.ru/system/context.js"; s.async = true; t.parentNode.insertBefore(s, t); })(this, this.document, "yandexContextAsyncCallbacks"); </script></div><style type="text/css"> @media screen and (min-width: 1201px) { .vlqet673a7c70a6ded { display: block; } } @media screen and (min-width: 993px) and (max-width: 1200px) { .vlqet673a7c70a6ded { display: block; } } @media screen and (min-width: 769px) and (max-width: 992px) { .vlqet673a7c70a6ded { display: block; } } @media screen and (min-width: 768px) and (max-width: 768px) { .vlqet673a7c70a6ded { display: block; } } @media screen and (max-width: 767px) { .vlqet673a7c70a6ded { display: block; } } </style> <p><a target="_blank" href="//www.interfax.ru/business/562287" rel="noopener">In a joint statement,</a> Russian Energy Minister Alexander Novak and Saudi Energy Minister Khalid al-Falih said the move would ensure “the stability, predictability and the progressive development” of the oil market.</p> <p>As well as reaffirming their confidence in the agreement, the pair told reporters that other countries involved in the deal were still committed to the cause. “I don’t see reasons for any country to quit,” he said. </p> </div> </div><div class="post-meta wf-mobile-collapsed"><div class="entry-meta"><a href="https://cultureru.com/2017/05/14/" title="8:45 am" class="data-link" rel="bookmark"><time class="entry-date updated" datetime="2017-05-14T08:45:00+00:00">May 14, 2017</time></a></div></div> <div class="author-info entry-author"> <span class="author-avatar no-avatar"><svg version="1.1" id="Layer_1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" x="0px" y="0px" viewBox="0 0 16 16" style="enable-background:new 0 0 16 16;" xml:space="preserve"><path d="M8,8c2.2,0,4-1.8,4-4s-1.8-4-4-4S4,1.8,4,4S5.8,8,8,8z M8,10c-2.7,0-8,1.3-8,4v1c0,0.5,0.4,1,1,1h14c0.5,0,1-0.5,1-1v-1 C16,11.3,10.7,10,8,10z"/></svg></span> <div class="author-description"> <h4><span class="author-heading">Author:</span> admin</h4> <p class="author-bio"></p> </div> </div> <nav class="navigation post-navigation" role="navigation"><h2 class="screen-reader-text">Post navigation</h2><div class="nav-links"><a class="nav-previous" href="https://cultureru.com/salvador-sobral-of-portugal-wins-2017-eurovision-song-contest-in-kiev/" rel="prev"><i class="icomoon-the7-font-the7-arrow-29-3" aria-hidden="true"></i><span class="meta-nav" aria-hidden="true">Previous</span><span class="screen-reader-text">Previous post:</span><span class="post-title h4-size">Salvador Sobral of Portugal wins 2017 Eurovision song contest in Kiev</span></a><a class="nav-next" href="https://cultureru.com/five-cant-miss-summer-light-festivals/" rel="next"><i class="icomoon-the7-font-the7-arrow-29-2" aria-hidden="true"></i><span class="meta-nav" aria-hidden="true">Next</span><span class="screen-reader-text">Next post:</span><span class="post-title h4-size">Five Can’t-Miss Summer Light Festivals</span></a></div></nav><div class="single-related-posts"><h3>Related posts</h3><section class="items-grid"><div class=" related-item"><article class="post-format-standard"><div class="mini-post-img"><a class="alignleft post-rollover layzr-bg" href="https://cultureru.com/the-covid-wardrobe/" aria-label="Post image"><img class="preload-me lazy-load" src="data:image/svg+xml,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20viewBox%3D'0%200%20110%2080'%2F%3E" data-src="https://cultureru.com/wp-content/uploads/2021/03/covid-110x80.jpg" data-srcset="https://cultureru.com/wp-content/uploads/2021/03/covid-110x80.jpg 110w, https://cultureru.com/wp-content/uploads/2021/03/covid-220x160.jpg 220w" width="110" height="80" alt="The COVID Wardrobe" /></a></div><div class="post-content"><a href="https://cultureru.com/the-covid-wardrobe/">The COVID Wardrobe</a><br /><time class="text-secondary" datetime="2021-03-23T19:46:13+00:00">March 23, 2021</time></div></article></div><div class=" related-item"><article class="post-format-standard"><div class="mini-post-img"><a class="alignleft post-rollover layzr-bg" href="https://cultureru.com/number-of-confirmed-cases-of-infection-with-the-virus-2019-ncov-data-for-february-3/" aria-label="Post image"><img class="preload-me lazy-load" src="data:image/svg+xml,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20viewBox%3D'0%200%20110%2080'%2F%3E" data-src="https://cultureru.com/wp-content/uploads/2020/02/koronovirus-110x80.jpg" data-srcset="https://cultureru.com/wp-content/uploads/2020/02/koronovirus-110x80.jpg 110w, https://cultureru.com/wp-content/uploads/2020/02/koronovirus-220x160.jpg 220w" width="110" height="80" alt="" /></a></div><div class="post-content"><a href="https://cultureru.com/number-of-confirmed-cases-of-infection-with-the-virus-2019-ncov-data-for-february-3/">Number of confirmed cases of infection with the virus 2019-nCoV. 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