Ben Geman May 15, 2017
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Russians and Saudis team up — favor extending oil deal

Alexei Druzhinin/Sputnik / AP

Saudi Arabia and Russia jointly said they favor extending the production-limiting deal between OPEC and some other big producers through the first quarter of 2018.

Why it matters: The comments by the world's largest producers signals what could happen when OPEC meets May 25 to weigh the future of the six-month production agreement that began in January.