Kuwait: Too early to think about extension of OPEC+ agreement

Baku. 14 September. REPORT.AZ/ OPEC and its allies will continue to closely monitor the implementation of the agreement on production cut. However, the final decision on the extension of the agreement can be made in the first quarter of 2018. 

Report informs citing the Forexpf.ru, Kuwait's Energy Minister Essam al-Marzouq said during press conference yesterday. "If the balance in oil market not restored by March, then various variants will be discussed, including extension of the deal," he said.

After the summit to be held in November, there are five months left before the end of the deal. Therefore, we can postpone the decision of the prolongation of the agreement, and in March can have an extraordinary meeting and discuss”, minister said. 

Venezuelan oil minister Eulogio Del Pino, who attended the press conference, said that "Participants have not yet agreed what to decide after the deal is over”.