Saudi Arabia's Falih says OPEC close to agreement on extending oil deal | ZAWYA MENA Edition:
OPEC is close to agreeing to extend an oil supply-cutting agreement beyond June, Saudi Arabia's energy minister said on Friday, though the question is how to accommodate participating non-OPEC countries.
The Organization of the Petroleum Exporting Countries, Russia and other non-members agreed in December to reduce supply by 1.2 million barrels per day from Jan. 1 until the end of this month. They meet in coming weeks to decide their next move.
"On the OPEC side, a rollover is almost in the bag. The question is to calibrate with non-OPEC," Saudi Energy Minister Khalid al-Falih said at an economic forum in St Petersburg, Russia.
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