Kremlin: Russia’s position on OPEC+ deal extension is yet to be defined

Kremlin: Russia’s position on OPEC+ deal extension is yet to be defined

Russia’s position on possible extension of the OPEC+ agreement on reduction of oil production is yet to be defined, Kremlin spokesman Dmitry Peskov said.

"No," he said responding to the question if there is already a decision on the OPEC+ agreement.

Peskov said that Russia will announce its position on a new OPEC+ deal in due course.

Yesterday, representatives of Russian oil companies met with Energy Minister Alexander Novak to discuss the OPEC+ deal. After that meeting first executive Vice President of Lukoil oil major Ravil Maganov told reporters that most companies are inclined to support the extension of the OPEC+ deal for another three months. He added that there has been no single position on that matter yet. At the same time, a source attending the meeting noted that most companies insist on keeping the current terms of the agreement while extending it for three months, TASS recalls.

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