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- OPEC mulls extending production cut deal for 3-6 months after March 2020, - TASS reports, citing sources
OPEC mulls extending production cut deal for 3-6 months after March 2020, - TASS reports, citing sources
Russian news agency TASS reports that OPEC countries unanimously support the feasibility of extending the agreement on the reduction of oil production (OPEC+) after March 2020, when it expires. According to three sources in delegations familiar with the talks, the extension for 3-6 months is being discussed.
"The extension after March is the least we can do. But most likely we will not increase the reduction volume," one of the sources told TASS.
The source specified that one of the options is a six-month extension. Meanwhile, another source said that the probable term of extension is 3 months.
"Then there will be a new meeting, we will decide what to do next," the source added.
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