Peskov: decision on the extension of the deal, OPEC+ is still pending

Russia has not yet made a decision on the extension of the deal, OPEC+ to reduce production, said the press Secretary of the President Dmitry Peskov.

the reduction of the production of falling revenues and investments in oil and gas companies. Therefore, Russian oil companies do not support a sharp decline in production.

In Russia the majority of oil produced in difficult conditions and maintenance of wells may lead to a complete standstill.

Russian oil companies are not against the extension of the agreement OPEC+ on the same terms for the second quarter. This became known after the meeting on 12 February, the Minister of energy Alexander Novak with oil. This is different from the recommendations of techamerica OPEC+.

a Week earlier, the technical Committee OPEC+ decided to recommend to the Ministerial meeting of OPEC to cut production in the second quarter for another 600 thousand barrels per day and extend the reduction to the end of the year.

OPEC Ministers+ can meet 5-6 March, but until then each country should decide on the size of production.

Earlier, Russia and the partners in the deal, OPEC+ consistently adjust production. OPEC+ includes the country’s oil Alliance of OPEC and other major independent oil-producing countries except the United States.