Austria: Oil producers in favour of extending output deal for 9 months — Novak

Russian Minister of Energy Alexander Novak was among the delegates to arrive for the 15th Joint Organisation of the Petroleum Exporting Countries (OPEC)-Non-OPEC Ministerial Monitoring Committee (JMMC) in Vienna on Monday. “We also reviewed the suggestion of prolonging our cooperation for the next period. All sides supported this, those representatives that were in the monitoring committee, as... Еще well as other ministers present today, everyone supported the suggestion of a nine-month extension, under the same terms that were agreed in December last year,” Novak said. The Joint Ministerial Monitoring Committee, known as JMMC, opens the two-day conference. Its primary goal is to review market fundamentals and make recommendations to the OPEC and non-OPEC members. The JMMC will be followed by the 176th Ordinary Meeting of the Conference, also taking place on Monday. On Tuesday, July 2, the 6th OPEC and non-OPEC Ministerial Meeting close the event.

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