In the face of flagging prices, the world’s two biggest oil exporters agreed on May 15 to extend production cuts for several more months, sending the price of crude soaring.
New York Times: As their clout wanes, Saudi Arabia and Russia extend oil production cuts
Picture taken on Feb. 18, 2015 shows facilities of Novoprtovskoye oil and gas condensates oilfield of Russian gas and oil giant Gazprom at Cape Kamenny in the Gulf of Ob shore line in the south-east of a peninsular in the Yamalo-Nenets Autonomous District.
