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Russian oil output in September below OPEC+ deal limits — minister

September 21, 22:43 UTC+3 VIENNA

The minister said it was too early to speak whether the deal to cut oil outputs will be extended again, after it expires in March 2018

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VIENNA, September 21. /TASS/. Russian oil output cuts this month exceeded the target stipulated by the OPEC-led deal, Russian Energy Minister Alexander Novak told reporters on Thursday.

"We are well below, due to maintenance works at some of our enterprises, including Sakhalin-1," he said.

The minister said it was too early to speak whether the deal to cut oil outputs will be extended again, after it expires in March 2018.

"There is such an option. We will monitor and watch, and as the deal’s deadline draws nearer, we will be able to discuss this issue substantially, based on the situation on the market," he said when asked whether the issue will be addressed on Friday.

Under the oil output cuts deal, Russia agreed to cut its oil output by 300,000 barrels per day.

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