Oil prices dip but stay near 1-year highs on expected output cut
Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year peak, after Russia and Saudi Arabia both said a deal between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members like Russia in curbing crude output was possible.
Worker checks valve of oil pipe at oil field owned by Bashneft company near Nikolo-Berezovka. Pic: Reuters