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Russia and S. Arabia agree OPEC+ format should be extended


By Reuters

Petroleumworld 06 18 2018

Russia and Saudi Arabia have a general consensus that the OPEC+ format should be “institutionalised” and extended until 2019 and beyond for oil market monitoring and joint action in case of need, Russia's energy ministry said in a statement on Friday.

Citing its minister Alexander Novak, the ministry added that Russia and Saudi Arabia planned to sign a mutual agreement which will draw their cooperation in the energy arena to a new level.


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Reporting by Olesya Astakhova; writing by Polina Devitt; editing by Louise Heavens from Reuters. 06 15 2018

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