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Saudi Energy Minister Khalid al-Falih said Sunday that OPEC would likely meet in Vienna the first week of July and that he hoped he would reach a consensus on the extension of its agreement to reduce oil production.
Falih said earlier this month that OPEC was about to agree to extend the deal beyond June, though further discussions were still needed with non-member countries of OPEC having participated in the production agreement.
The Organization of the Petroleum Exporting Countries, Russia and other producers, an alliance known as OPEC +, signed an agreement to reduce the production of 1.2 million barrels per day from January 1st.
"We hope to reach a consensus to extend our agreement when we meet in two weeks in Vienna," Falih told the press at a G20 ministerial meeting on energy and the environment northwest of Tokyo. When asked about the date of the meeting, he replied: "Probably the first week of July".
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Last updated: Sunday 16 June 2019 KSA 09:24 – GMT 06:24
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