Russian President Vladimir Putin was speaking after talks with Saudi crown Prince Mohammed bin Salman, told a news conference the deal would be extended in its current form and with the same volumes. Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil production. The Organization of Petroleum Exporting Countries, Russia and other producers, an alliance known as OPEC+, meet on July 1-2 to discuss the deal that involves curbing oil output by 1.2 million barrels per day (bpd). The pact expires after June 30.
“We will support the extension, both Russia and Saudi Arabia. As far as the length of the extension is concerned, we have yet to decide whether it will be six or nine months. Maybe it will be nine months,” said Putin, who met the crown prince on the sidelines of a G20 summit in Japan.
Russia agrees with Saudi Arabia to extend by 6 to 9 months deal with OPEC : Putin
