Gas exporting countries called for a fair price for natural gas at a summit on Friday, according to the AFP. The Gas Exporting Countries Forum, at which Egypt is a participant, is angling to effectively decouple natural gas from oil prices, pointing to gas’ “environmental benefits and energy efficiency.”

Meanwhile, Russia and OPEC have roughed-out an agreement to extend output cuts until the end of next year, sources close to the negotiations told Bloomberg. Details are still being worked out ahead of a meeting in Vienna next week set to be attended by OPEC and non-member oil producers. Russia had been hesitant to furthering any agreements due to the current limits expiring in March and have asked that new terms on output cuts be contingent on the health of the oil market.

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