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World oil prices

OPEC+ deal participants may discuss reviewing its parameters in June

The review of the deal’s parameters may also be considered in January, during the meeting of the Joint Ministerial Monitoring Committee (JMMC)

Russian Energy Minister Alexander Novak Stoyan Vasev/TASS

Russian Energy Minister Alexander Novak

© Stoyan Vasev/TASS

VIENNA, November 30. /TASS/. Ministers from member nations of the OPEC+ deal on oil output cuts may discuss reviewing the parameters of the deal during their regular meeting next June if necessary, Russian Energy Minister Alexander Novak told reporters on Thursday.

"We have also agreed to have a regular ministerial meeting in June, and at this meeting we will also be able to sum up the results of both the implementation of the agreement and of the current market situation. And, in fact, this will be one of the opportunities that we may use to readjust our agreement, if it is necessary due to the situation on the market," Novak said.

The review of the deal’s parameters may also be considered in January, during the meeting of the Joint Ministerial Monitoring Committee (JMMC) overseeing its implementation, the minister added.

Representatives of the event’s organizers told TASS earlier in the day that the next meeting of the OPEC+ group of nations will take place on June 22, 2018.

The Russian Energy Ministry earlier said in a Twitter post that the next meeting will be held in June, but gave no exact date.

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