OPEC is close to extend the agreement on the reduction of oil production

Date: 17:58, 07-06-2019.

Almaty. June 7. KazTAG - OPEC is close to extend an agreement on the reduction of oil production, said Saudi Arabia’s Energy Minister Khalid Al-Falih.
"The Minister noted that the question is only how to coordinate this with the participating countries of the agreement that are not OPEC members," - the Reuters message said.
At the same time, Al-Falih noted that he sees no need for an even greater reduction in oil production.
Earlier, the minister said that Saudi Arabia did not want to participate in the race for the increase in oil production in order to compensate for lower prices.
According to him, the ideal stability in the oil market has not been achieved and that prices are influenced by factors independent of OPEC.
Earlier, KazTAG, citing TASS, reported that the meeting of OPEC and non-OPEC countries could be postponed to July 2-4.

Photo source: picture from the open source

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