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Saudi Arabia's energy minister announced that he and his Russian counterpart Alexander Novak on the sidelines of the G20 summit discussed different options for extending the OPEC + agreement.
"On the sidelines of the G20 summit in Osaka, a meeting was held today with Russian Energy Minister Alexander Novak, during which we discussed the conditions of the international oil markets, the various options towards the extension of OPEC + agreement, as well as cooperation in oil and gas fields and deepening trade and investment cooperation between the two countries. Our two countries. "
On the sidelines # Top 20 in a # Osaka Today held a meeting with the Russian Minister of Energy Alexander Novak, during which we discussed the conditions of the international oil markets, the various options towards the extension of OPEC + agreement, as well as oil and gas cooperation, and deepening trade and investment cooperation between our two countries. pic.twitter.com/FsGI6XgWTS
– Khalid Al Falih (@Khalid_AlFalih) June 28, 2019
OPEC and OPEC meetings are scheduled for June 25 and 26, respectively. The meetings were planned to determine the fate of the Vienna deal, including the possibility of extending it to the second half of 2019. At the same time, a . source said in late May that the organization was considering postponing the June meetings to early July /July.
The meeting of the Ministerial Follow-up Committee, held in mid-May in Jeddah, Saudi Arabia, ended without specific recommendations on the fate of the deal to reduce oil production in the second half of this year, but the final statement said that the Organization will continue to cooperate, It is expected that in June, in the Austrian capital Vienna, ministerial meetings of OPEC and OPEC +, where member states will decide and share the future prospects of the deal.
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