Russian President Vladimir Putin said on Sunday that Russia and Saudi Arabia had agreed to extend the agreement on reducing oil production, without specifying the amount of reduction.

"Yes, we have an agreement on the extension of our agreement," Putin told a news conference, commenting on the results of his meeting with Saudi Crown PrinceMohammed bin Salman on the sidelines of the G20 summit in Buenos Aires .

"The final decision has not yet been made on the size, but we will do it together with Saudi Arabia," she said. "Whatever the final figure under the joint resolution, we will follow the situation in the market and deal with it quickly."

It is noteworthy that the agreement of oil states members and non-members of OPEC on the reduction of production came into force at the beginning of 2017, and later was extended until the end of 2018.