The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producers (OPEC Plus) have decided to leave unchanged extension of oil production cut for 2018, TASS news agency reports, quoting Russian Energy Minister Alexander Novak, who took part in the meeting of the joint ministerial monitoring committee of OPEC and non-OPEC oil producers in Oman’s capital, Muscat, on Sunday.  

Commenting on this decision, Mr. Novak said the market had not yet reached a balance between oil demand and supply. In his forecast for the coming year, the Minister stressed that Russia was optimistic about the extent of compliance with the agreement by the OPEC Plus countries. He also added that the deal was effective and fruitful. 

For more: https://www.rbc.ru/economics/21/01/2018/5a6488d99a79472a9fa0a654