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Saudis to Seek Extension of OPEC Cuts as Aramco IPO Approaches

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Saudi Arabia will push for an extension of oil-production cuts through mid-2020 at a producers’ summit this week in an effort to prop up Saudi Aramco’s initial public offering share price, Persian Gulf officials said.

But talks over boosting compliance to agreed cuts—a key condition for the kingdom to deepen its efforts—are being overshadowed by growing unrest in the Middle East.

The…

Source: WSJ.com: Markets