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OPEC+ committee recommends oil production cut deal extension — minister

November 30, 13:23 UTC+3

The OPEC+ committee has recommended prolonging the oil production capping agreement by 9 months until 2018 year-end

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© Viktor Drachev/TASS

VIENNA, November 30. /TASS/. The OPEC+ ministerial committee recommended prolonging the oil production capping agreement by 9 months until 2018 year-end, Oil and Gas Minister of Oman Mohammed bin Hamad Al Rumhy told reporters on Thursday.

"The recommendation actually we are suggesting is until end of the year," the minister said. Member-countries of the monitoring committee will hold regular meeting, Al Rumhy said. "Every time we meet we will look at the market situation, see what's happening. And we meet every 2 months. You know that the next time the meeting will be in Oman," he noted.

The current level of the OPEC+ agreement performance is good, the minister said. No problems are expected at the forthcoming OPEC and non-OPEC countries meeting, he added.

Ministers of OPEC+ member-states are to discuss extension of the oil production limiting agreement until 2018 year-end at the meeting on November 30 in Vienna.

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