In Saudi Arabia expect quick results from the agreement OPEC+

© AFP 2017 / Ryad KramdiПредставители of OPEC in the International energy forum in Algeria. 28 September 2016In Saudi Arabia expect quick results from the agreement OPEC+© AFP 2017 / Ryad Kramdi

The meeting of OPEC countries and other States of the agreement on the reduction of oil production (OPEC+), held in Vienna in late may, to be effective, the agreement will become apparent in the coming weeks and months, told journalists the Minister of energy, industry and mineral resources Saudi Arabia Khalid al-falih.

«We had a very effective meeting in Vienna. The results of this agreement will occur in the coming weeks and months,» said al-falih.

OPEC and other oil producing countries at the end of 2016, agreed to cut oil production to total 1.8 million barrels per day from October levels, of which 300 thousand are in Russia. The agreement was concluded for the first half of 2017 with possibility of extension. In late may, its validity was extended for nine months until the end of March 2018.