OPEC Meets Today To Discuss Extension The Current Oil Production Cuts For 12 Months

Baghdad The OPEC and non-OPEC producers will discuss on Thursday an option to extend current oil production cuts for a total of 12 months until June 2018, Russian Energy Minister Alexander Novak said.

"The recommendation is to keep the current quotas," Novak said after an informal meeting of the Joint Monitoring Committee, which includes a number of OPEC ministers and independent producers.

He added, "The period is nine months and we will discuss the possibility of extending another three months until June 2018."

Source: National Iraqi News Agency