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Kremlin mum on extending oil production cut deal with OPEC

May 04, 2017, 13:12 UTC+3 MOSCOW

The official meeting of the OPEC countries and other oil producing states participating in the agreement on oil production cut will be held on May 25 in Vienna

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© Egor Aleev/TASS

MOSCOW, May 4. /TASS/. Russian authorities have not yet decided on a possible extension of the agreement with the OPEC to cut oil production for the second half of the year, the Russian Presidential Spokesman Dmitry Peskov told reporters.

"No decision was made. If there is one, we will let you know," the spokesman said.

The official meeting between the OPEC members and other oil producing states participating in the oil production cut deal will be held on May 25 in Vienna. The participants will discuss a six-month extension of the agreement. In total, 11 OPEC countries and 11 independent producers, including Russia, participated in the agreement.

In total, the alliance agreed to reduce oil production in the first half of 2017 by 1.8 mln barrels.

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