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Peskov told about the possibility of extending the Treaty on the reduction of oil production



"I can't answer your question, you know that negotiations were under way," said the Secretary of the President Dmitry Peskov, answering the question of whether Russia agrees to prolong the agreement on oil production after 2017.



13.May.17 11:45 AM
By Christina Orlina
Photo Toinnov.com

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Peskov told about the possibility of extending the Treaty on the reduction of oil production
OPEC agreed to reduce its production by 1.2 million barrels a day from October level on November 30, 2016, in Vienna. Eleven non-OPEC countries agreed to reduce its production a total of 558 thousand barrels per day, including Russia 300 thousand. The agreement was concluded for the first half of 2017 with the possibility of extension. The decision on the fate of the agreement will be adopted in Vienna on 25 May.

On Monday the Minister of energy, industry and natural resources Saudi Arabia Khalid Al-Falih said that the countries-participants of agreements on the reduction of oil production can extend its effect on more than to the end of 2017, period. Last week the Minister of Energy of Kazakhstan Kanat Bozumbayev said that the currently discussed extension of the agreement for nine months. Reuters, citing sources in the cartel and in the industry on Monday said that discussions were ongoing about the extension of the agreement and for longer than nine months period.



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