Saudi Minister sees no need to adjust the agreement OPEC+

© AP Photo / Hasan JamaliДобыча oil. Archival photoSaudi Minister sees no need to adjust the agreement OPEC+© AP Photo / Hasan Jamali

Russia, Saudi Arabia and Kazakhstan will continue to fully support the agreement of OPEC and other States on the reduction of oil production (OPEC+), the Minister of energy, industry and mineral resources of Saudi Arabia Khalid al-falih.

He noted that on Saturday will discuss the implementation of the transaction OPEC+ with the energy Minister of Kazakhstan Kanat Bozumbayev and the Minister of energy of Russia Alexander Novak.

«I look forward to discussion agreements (OPEC+ with the energy Minister of Kazakhstan Kanat Bozumbayev — ed.)… Then we will continue to discuss with our colleague from the Russian Federation Alexander Novak. I believe that all three countries will continue to fully support the agreement,» said al-falih.

«Nothing indicates a need to adjust (obligations of the countries — ed.) agreement,» the Minister added.

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.

In late may, energy Minister of Kazakhstan Kanat Bozumbayev said that Kazakhstan can adjust their obligations to reduce oil production to fall this year due to the planned growth of production at the Kashagan field.

Saudi Minister sees no need to adjust the agreement OPEC+© RIA Novosti, Informaticompletion: from exploration to the consumer

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