Russian Deputy Prime Minister says OPEC+ will definitely exist beyond 2022

Alexander Novak, Russian Deputy Prime Minister

© APA | Alexander Novak, Russian Deputy Prime Minister

# 29 December 2021 13:46 (UTC +04:00)

Russian Deputy Prime Minister Alexander Novak said Wednesday that OPEC+ will definitely exist beyond 2022 within the open-ended cooperation charter, but it is premature to speak about the necessity for oil output adjustments after the current deal expires next year, APA reports citing Sputnik.

"The necessity of joint efforts to adjust production is determined only by the market situation. We do not know what it will be like in a year," Novak said in an interview with the RBC Group, when asked about the cartel's work after the current deal expires in 2022.

The minister also said that the cooperation under the open-ended charter signed by the 24 member countries of the OPEC, would definitely continue in the format of consultations, information and analytical data exchange, and so on.