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Seven African countries keen to join OPEC+ agreement

Seven African countries keen to join OPEC+ agreement
The deal will be effective until March, 2018
© REUTERS/ Heinz-Peter Bader

Baku. 4 October. REPORT.AZ/ Seven African countries may join OPEC+ agreement to curb oil production.

Report informs referring to the Interfax, Venezuelan oil minister Eulogio Del Pino told reporters. 

Ministers said these countries are Egypt, Equatorial Guinea, Congo, Chad and others. Del Pino said the initiative was made by Equatorial Guinea. Eulogio Del Pino added he holds negotiations with Egypt.

OPEC countries decided on October, 2016 to cut oil output by 1,2 mln. barrels/day or 3,56% down to 32,5 mln. barrels/day. Non-OPEC countries agreed to cut oil production by 558,000 barrels per day.

The agreement was extended on June, 2017 for 9 months till end of March, 2018.

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