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Total: OPEC+ deal must be extended by late 2018
Energy
- 18 October, 2017
- 12:16
Baku. 18 October. REPORT.AZ/ OPEC and non-member countries must extend the deal until end of 2018, which is ending at the end of March 2018.
Report informs citing the RIA Novosti, Chairman and CEO of Total, Patrick Pouyanné said.
"If we want the OPEC+ agreement to be effective, then the deal should last for at least two years. If there is excess reserves in the oil market for 3-4 years, it will take time to stabilize the oil market", Pouyanné said at the “Oil and Money” conference.
The head of the Total also noted that the oil market gradually stabilized.
Notably, next summit of the OPEC+ countries' ministers will be held in Vienna on November 29.
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