Finnvera raises guarantee coverage to maximum of 90%; UK unveils £10bn trade credit insurance guarantee plan; Saudi Arabia, Russia agree oil cuts extension

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil output cuts by one month, while raising pressure on countries with poor compliance to deepen their cuts, sources said.

• The UK government said it will guarantee up to £10 billion ($12.5 billion) in trade credit insurance schemes which protect businesses hit by the coronavirus against defaults or payment delays

• The Export-Import Bank of the United States has extended several relief measures for exporters and financial institutions affected by the COVID-19 pandemic through to 31 August, 2020

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