Russia to join opec in cutting oil output

   Russian president Vladimir putin have announced that his country is to join the deal of organization of petroleum exporting countries OPEC to cut global oil output by September 28. Opec says it will cut crude oil output by 700,000 barrels per day.

   The Russian president says the era of crude oil and gas will not come to an end in the foreseeable future, with this statement crude oil price surged, trading at $52.61 per barrel.
   The details of global oil production cut will be shared among producing countries and will be discussed in the next opec meeting in Vietnam by November 30th. Opec have been convincing other oil producing countries like Russia to join the deal.