REFILE-Russia, Saudi oil ministers agree to extend oil output cuts

(Refiles to correct Russian oil minister to Alexander Novak, not Alexandra)

BEIJING, May 15 (Reuters) - Saudi Arabia and Russia have agreed that oil output cuts need to be extended until March 2018, Saudi energy minister Khalid Falih and Russian oil minister Alexander Novak said on Monday.

(Reporting by Aizhu Chen; Writing by Josephine Mason; Editing by Richard Pullin)