Saudi Arabia, Russia reach deal on deep oil output cuts - Reuters

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Oil prices ramp up following reports that Saudi Arabia and Russia have reached a deal on deep production cuts.
Cuts could be as large as 20M bbl/day, Reuters reports, citing an unidentified Russian source and an OPEC source.
May WTI +12% to $28.36/bbl; June Brent +8.5% to $35.79/bbl.
The reported deal comes as a virtual meeting between OPEC and its allies kicked off.