OPEC+ deal may be extended to April 2020

April 2020 is the most probable and discussed term of extension of agreements on OPEC+ output cuts, Report informs citing TASS.

"Nine months seem most likely than six. You may remember that both [Saudi Minister of Energy, Industry and Mineral Resources Khalid bin Abdulaziz] al-Falih and [Russian Minister of Energy] Novak supported this option. It means that all the Middle Eastern countries of OPEC will support Saudi Arabia and the rest, of 'non-OPEC' states, would support Russia. Though discussions are ahead," a source in the alliance said.

Another TASS interlocutor in OPEC said that extension of restrictions for nine more years is more preferrable than six, since it creates less clear prospects for 2020 for the process of budgeting US shale companies.