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Saudi minister: Important to try to agree on oil cuts deal extension
April 28, 2017 / 7:29 AM / 8 months ago

Saudi minister: Important to try to agree on oil cuts deal extension

ASTANA (Reuters) - Saudi Energy Minister Khalid al-Falih said on Friday that it was important to try and agree on an extension of a global oil cuts deal into the second half of the year.

FILE PHOTO: Saudi Arabia's Energy Minister Khalid al-Falih adjusts his glasses during a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, December 10, 2016. REUTERS/Heinz-Peter Bader/File Photo

The Organization of the Petroleum Exporting Countries, along with Russia and other non-OPEC producers, pledged to cut output by 1.8 million barrels per day (bpd) in the first half of 2017.

That deal expires at the end of June. Falih, who was speaking in Astana, said that it was important to agree on an extension with both OPEC and non-OPEC members.

Reporting by Raushan Nurshayeva; Writing by Kevin O'Flynn; Editing by Andrew Osborn

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