Russia, Saudi 'very, very close' to a deal on oil output cuts - CNBC

An oil tanker is seen at sunset/ Representative photo. (Credit: Reuters)

Saudi Arabia and Russia are "very, very close" to a deal on oil production cuts, Russia's sovereign wealth fund chief told CNBC on Monday.

"I think the whole market understands that this deal is important and it will bring lots of stability, so much important stability to the market, and we are very close," Kirill Dmitriev, CEO of the Russian Direct Investment Fund, told CNBC.