Peskov: There Are No Decisions on Further Steps in Framework of the OPEC+ Deal
"There is no news yet. Work with our partners is ongoing. No decisions have been made so far", the Kremlin spokesman said. Russia has been participating in the OPEC agreement on joint regulation of oil production since 2017. During this time, it was extended several times. Countries set production quotas depending on the market situation; they are valid for three to nine months. The current agreement is valid until March 31, 2020.
On February 18, Russian Energy Minister Alexander Novak discussed with the Minister of Energy of Saudi Arabia, Prince Abdel Aziz bin Salman, over the phone’s interaction between the two countries under the OPEC agreement, and the day before, spoke with Iranian Oil Minister Bijan Namdar Zangane. Officially, the results of these consultations were not announced, but the source of the Russian media in OPEC noted that they have not yet led to a final consensus.