The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria September 21, 2017. REUTERS/Leonhard Foeger
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OPEC and Russia have crafted the outline of a deal to extend their oil production cuts to the end of next year, although both sides are still hammering out crucial details, people involved in the conversations said.Russia wants the extension deal to include new language that would link the size of the curbs to the health of the oil market, they said.The deal isn't finalized as Russia and Saudi Arabia haven't yet agreed on the new language, the people said.Whatever OPEC and Russia agree, the countries will have an opportunity to review their deal again in mid-2018, as OPEC will probably hold a regular ministerial gathering then.
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