OPEC + OPEC to extend oil production cut deal
Economy News - Baghdad
TOKYO (Reuters) - OPEC and other producers are likely to agree to extend an existing deal to cut oil output by 1.2 million barrels per day when they meet next month, the head of the Japan Petroleum Association said on Thursday.
Tsukyoka's remarks came after Russian President Vladimir Putin said on Wednesday that his country and the Organization of Petroleum Exporting Countries (OPEC) had a "common goal" in keeping the oil market balanced and predictable, and that Moscow would continue to cooperate within the framework of the global supply reduction agreement.
OPEC meets on December 5 in Vienna, followed by talks with a group of other exporters, including Russia, in an alliance known as OPEC +.