Russia will support the continuation of the OPEC + deal after 2022

MOSCOW, Sep 1 — PRIME. Russia will continue cooperation within the framework of OPEC + after 2022, the alliance will discuss the issue in the fall, said Russian Deputy Prime Minister Alexander Novak.

Russia will not supply oil to those who support the price limit for it

He stressed that the cooperation was extremely effective, so it is necessary to continue cooperation.

“The cooperation that was achieved in 2016 has shown its effectiveness in various situations. We have successfully overcome the crisis, the pandemic period of 2020, so my point of view is that we need to continue such cooperation. We discussed this with our oil companies, and they They also support this, I mean, the period after 2022. Together with our OPEC+ partners… in the fall, we will probably discuss the extension of our cooperation,” Novak told reporters.

OPEC+ will soon begin work on a new oil agreement for the period after 2022, the alliance has all the necessary leverage to influence market volatility, including production cuts, Saudi Energy Minister Prince Abdulaziz bin Salman said in late August in an interview with Bloomberg. The next meeting of OPEC + will be held on September 5, which will be included in its agenda is still unknown.

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On Tuesday, the head of Gazprom Neft, Alexander Dyukov, also said that the OPEC + agreement had a positive effect on the market and should continue to work.


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