UPDATE: Russia and OPEC Said to Outline Deal on Extending Oil Cuts - Bloomberg

(Updated - November 24, 2017 6:34 AM EST)

Russia and OPEC crafted the outline of a deal to extend oil production cuts until the end of next year but are still hammering out crucial details, according to Bloomberg, citing people involved in the conversations.

After days of talks, Moscow and Riyadh now agree on the need to announce an additional period of cuts at the Nov. 30 meeting in Vienna. Russia wants the extension deal to include new language that would link the size of the curbs to the health of the oil market, the report said.

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