The Saudi Minister doubted that the situation with the Qatar deal will hurt OPEC+

© RIA Novosti / Alexei Codecoverage in fotomancer energy of the Kingdom of Saudi Arabia Khalid al-falih. Archival photoThe Saudi Minister doubted that the situation with the Qatar deal will hurt OPEC+© RIA Novosti / Alexei Codiscovered the image Bank

The situation around Qatar will not affect the agreement of OPEC and other oil producing countries to reduce output of oil (OPEC+), the Minister of energy, industry and mineral resources of Saudi Arabia Khalid al-falih.

«I do not think that the diplomatic and political situation in Qatar… will have any impact on the agreement on oil,» said al-falih told reporters.

On Monday, Egypt, Saudi Arabia, Bahrain and the UAE announced the rupture of diplomatic relations with Qatar, accusing it of supporting terrorist organizations and destabilize the situation in the middle East. Power Eastern Libya, Yemen and the Maldives and Mauritius subsequently also announced the severance of relations with Qatar. Head of the Qatari foreign Ministry, as reported by Reuters, said that Doha will not take retaliatory measures.

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.

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