OPEC+ deal terms may change

OPEC+ deal terms may change
Currently, volume of global oil reserves more by 120 mln barrels

Baku. 22 January. REPORT.AZ/ A new type of deal may be applied after 2018 instead of extension of the current OPEC+ agreement.

Report informs referring to the, Oman oil minister Mohammed bin Hamad al-Rumhi said.

The minister said that global oil reserves will be less than today to late this year. We need to know whether the deal will be extended or a new one will be signed until this period. I am in favor of a new type of deal.

"I remember a few years ago we were talking about a freeze. These are the ideas we will be talking about in Vienna in November. It must be agreed by the participants", al-Rumhi said.

Notably, S. Arabian oil minister Khalid al-Falih said at yesterday's meeting of the Joint Ministerial Monitoring Committee of the OPEC+ in Oman that current global oil reserves exceeds average of the last 5 years by 120 mln barrels. Russian energy minister Alexander Novak said the OPEC countries should continue to be responsible.

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