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OPEC Secretary General to participate in Russian Energy Week 2017

September 13, 15:22 UTC+3 MOSCOW

Russian Energy Week 2017 will be held in Moscow on October 3 to 7

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MOSCOW, September 13. /TASS/. OPEC Secretary General Mohammad Barkindo has confirmed that he will participate in Russian Energy Week 2017 in Moscow, the Roscongress Foundation reported Wednesday.

"The cartel head is to take part in one of the key discussions on the Forum business agenda focusing on world oil market stabilization," the report said.

Russia participates in the agreement between OPEC and non-OPEC nations to slash crude oil production made in December 2016. The participants of the deal have committed to withdraw 1.8 mln barrels per day from the oil market versus the level of October 2016. The pact expires in end-March 2018. Currently, the issue whether to extend the agreement is the top priority of the OPEC+ agenda, and a decision is expected to be made at the November meeting in Vienna. The issue will also be discussed at the meeting of the monitoring committee in Vienna later this month. Russia’s Energy Minister Alexander Novak is expected to attend the meeting.

Russian Energy Week 2017 will be held in Moscow on October 3 to 7. Heads of biggest global energy companies and leading international experts will be present. The goal of the forum is to discuss pressing issues of the global energy agenda, define the main development directions, and search for best solutions to respond to existing challenges.

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