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No plans to discuss OPEC+ at highest level — Peskov

Since early July, the OPEC + countries have not been able to agree on the terms of easing production restrictions until the end of this year

MOSCOW, July 12. / TASS /. There are currently no plans to discuss the OPEC+ deal at the highest level, Russian Presidential Spokesperson Dmitry Peskov told reporters on Monday.

"So far, no high-level contacts on OPEC+ are planned," Peskov said. 

He noted that in a July 9 telephone conversation between Russian leader Vladimir Putin and US President Joe Biden, the OPEC + deal was not discussed either. "On the Russian side, work on this topic continues through the Deputy Prime Minister Alexander Novak," Peskov added. 

The OPEC + countries have not been able to agree on the terms of easing production restrictions until the end of this year since early July. Saudi Arabia, OPEC's largest oil producer, insists that OPEC + countries should simultaneously renew the agreement, which expires in April 2022, until the end of next year. The United Arab Emirates are opposed to it, citing that during the extension, the base levels of oil production, from which the quotas in the agreement are calculated, should be revised. Now for all countries with the exception of Russia and Saudi Arabia, such a basic cut-off is the level of oil production in October 2018.