Energy minister: OPEC+ monitoring committee recommends deal extension after March 2018
Vienna. The Joint Ministerial Monitoring Committee (JMMC) recommended to extend the OPEC+ oil production limiting deal after March 2018, Russian Energy Minister Alexander Novak told reporters on Wednesday.
"Everyone recommended that the agreement can be extended. Specific details can be discussed directly at the meeting of all ministers and only after that we will be able to inform you about specific results," Novak said.
The OPEC+ will make a decision on November 30 in line with recommendations of the monitoring committee, the Russian minister said. "I am confident everything will be within the framework of JMMC recommendation and the result will be good," Novak was quoted by TASS.
Ministers of 24 countries participating in the agreement will review recommendations concerning the deal extension on November 30, the minister said. The extension timeframe will also be presented on the same day, he added.