WSJ: Russia and Saudi Arabia reached a compromise on oil production

"Saudi Arabia and Russia reached a compromise ... agreeing to maintain production levels in February and then begin to increase it in March," the newspaper writes.

An agreement on this issue was planned to be reached on Monday, January 4, but the OPEC + countries did not come to a consensus and decided to continue the meeting on January 5, RIA Novosti said.

As Iranian Oil Minister Bijan Zangane said, OPEC + discussed two options - an increase in oil production in February by 500 thousand barrels per day and maintaining the January parameters.

The first, according to media reports, was supported by Russia, the second - by Saudi Arabia and most other countries, explaining this by uncertainty due to COVID-19.