Russian President Vladimir Putin told an energy conference in Moscow on Wednesday that Russia and Saudi Arabia would “most likely” extend output cuts into 2024 and warned that clashes in the Middle East could impact oil exports with higher shipping and insurance costs. 'I am sure that the coordination of the OPEC partners' actions will continue,' Putin told the conference.
After Brent crude’s brief flirtation with up to $97 per barrel in late September, oil prices have pared gains, again rallying briefly with the Hamas missile attack on Israel over the weekend, which has led to a declaration of war by Israel.
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