OPEC agreed on measures to reduce oil production to stabilize the market

MOSCOW, April 10. /TASS/ Without a deal, OPEC+ sustainable growth of the world economy is impossible, said Minister of energy of Russia Alexander Novak.

OPEC+ at a meeting held Thursday in the format of the video, agreed on a package of measures to reduce oil production, aimed at stabilizing the market. This was announced by energy Minister Alexander Novak, opening an emergency meeting of energy Ministers of G20 countries held in online.

“Yesterday, in the format of OPEC+ was coordinated complex of measures on production cuts aimed at stabilizing the market. I would like to sincerely thank all the participants of negotiations — it is important both for producers and for consumers,” he said.

the Minister noted that without a deal, OPEC+ stable world economic growth is not possible, calling on all oil producers to act together in restoring the global oil market.

“the Restoration of stability in the energy market and energy security are the keys to solving multidimensional problems, including those associated with health, welfare and safety at all stages of overcoming the crisis,” — said Novak.

He urged other countries to join the OPEC deal+.