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Russia's Novak says may discuss adjustments to OPEC deal at monitoring committee
May 26, 2017 / 12:00 PM / in 2 months

Russia's Novak says may discuss adjustments to OPEC deal at monitoring committee

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Russia's Energy Minister Alexander Novak, Saudi Arabia's Energy Minister and OPEC conference president Khalid al-Falih, and OPEC Secretary General Mohammad Barkindo attend a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producing countries in Vienna, Austria, May 25, 2017.Leonhard Foeger

MOSCOW (Reuters) - Russian Energy Minister Alexander Novak said on Friday a committee that monitors a deal between OPEC and non-OPEC states on cutting output could discuss possible adjustments to the agreement when it meets.

"We can convene (the committee meeting) at any time but under the plan, it gets together every two months," Novak said. He also confirmed that terms of the deal, which was agreed to be extended on Thursday, could in theory be changed at any meeting.

At Thursday's meeting in Vienna the Organization of the Petroleum Exporting Countries and some non-OPEC producers agreed to extend a pledge to cut around 1.8 million barrels per day (bpd) of output until the end of the first quarter of 2018. The initial agreement would have expired next month.

Reporting by Olesya Astakhova; Writing by Katya Golubkova; Editing by Edmund Blair

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