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OPEC extends agreement on oil production cut

Extension term of OPEC deal on cutting oil production is not important for Russia, the Russian energy minister said

© Viktor Drachev/TASS

VIENNA, MAY 25. /TASS/. OPEC countries have decided to extend the agreement on oil production reduction by the end of March 2018, Kuwait's Oil Minister Essam Al-Marzouk said before the start of the meeting with participation of non-OPEC countries.

"Yes," he answered to the corresponding question from TASS.

Extension term of OPEC deal on cutting oil production is not important for Russia, Russian Energy Minister Alexander Novak told journalists.

"For Russia, 9 months are not essentially important for Russia. In any case we will have the opportunity to make a decision," the Minister said.

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