{"id":41172,"date":"2018-12-01T15:32:43","date_gmt":"2018-12-01T20:32:43","guid":{"rendered":"https:\/\/olduvai.ca\/?p=41172"},"modified":"2018-12-01T15:32:43","modified_gmt":"2018-12-01T20:32:43","slug":"putin-confirms-no-new-oil-production-cuts-hopes-for-us-uk-detente","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=41172","title":{"rendered":"Putin Confirms No New Oil Production Cuts; Hopes For US, UK Detente"},"content":{"rendered":"
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Putin Confirms No New Oil Production Cuts; Hopes For US, UK Detente<\/a><\/span><\/h3>\n<\/div>\n
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Russian President Vladimir Putin praised Trump, pummeled Poroshenko, and poured cold water on oil market bulls’ hopes<\/strong> in a statement following the G-20 meetings.<\/p>\n

Putin began by confirming what White House Press Secretary Sanders noted earlier – he and Trump had spoken broefly on the sidelines of the G-20 and discussed the Ukraine incident. Putin added that “Trump is not afraid of [him]” and expressed “pity that he could not have a full format meeting with President Trump” pointing out that “Russian needs to maintain dialog with US,” and “hopes to meet [Trump] when US is ready.”<\/strong><\/p>\n

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Putin also mentioned Russia’s relationship with the United Kingdom, noting that “UK is an important partner for Russia<\/em><\/strong>” adding that he “hopes to overcome differences, to normalize relations with UK in the near future.”<\/strong><\/em><\/p>\n

But perhaps the most important aspect of Putin’s comments – related to markets – was his statement on crude production cuts.<\/p>\n

Russian news service RIA noted earlier that Putin and Saudi Arabian Crown Prince Mohammed bin Salman (MbS) discussed oil, haven\u2019t taken concrete decisions yet, including production cuts,<\/strong> Kremlin\u2019s foreign police aide Yuri Ushakov said.<\/p>\n

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And Putin just confirmed that there are no additional cuts over and above the OPEC+ Vienna Accord levels currently in place<\/strong>:<\/p>\n