OPEC+ monitoring committee may agree on proposals for June meeting - Novak

OPEC+ monitoring committee may agree on proposals for June meeting - Novak

The Joint OPEC/Non-OPEC Ministerial Monitoring Committee (JMMC) at its meeting on Sunday may develop proposals for the alliance’s conference in Vienna due on June 25-26, but it is early to speak about extending the oil output cut deal, Russian Energy Minister Alexander Novak told reporters.

"I think now it is early to speak [about the need to extend the deal]. We need to meet and discuss everything," Novak said upon his arrival in Saudi Arabia, TASS reports.

"We need to listen to a report by a technical committee and assess the implementation of the deal over the past four months and also discuss the situation on the market in order to develop proposals for our June ministerial meeting," the minister said.

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