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No decision yet on further steps within OPEC+ deal — Kremlin

The next OPEC+ meeting is scheduled for early March, which will consider the future of the deal to reduce production, as well as possible measures to balance the oil market due to the situation with coronavirus

MOSCOW, February 25. /TASS/. Russia continues to consult with its partners on the OPEC+ deal, no decisions have been made so far, Russian Presidential Spokesman Dmitry Peskov told reporters, answering a question about whether Moscow has decided on its position on future steps in the framework of agreements to reduce oil production.

"There is no news yet. Work with our partners is ongoing. No decisions have been made so far," Peskov said.

Russia has been participating in the OPEC+ agreement on joint regulation of oil production since 2017. During this time, it was extended several times. Countries set production quotas depending on the market situation; they are valid for 3-9 months. The current agreement is in force until March 31, 2020.

The next OPEC+ meeting is scheduled for early March, which will consider the future of the deal to reduce production, as well as possible measures to balance the oil market due to the situation with coronavirus.