Oil export cartel OPEC, and countries that do not belong to the organization, in Vienna today agreed on the extension of the deal to limit oil production before the end of 2018, according to Reuters.

The results of the agreement, the cartel members agreed to perform in the middle of next year.

“We will meet again in June, and look not only at how we did in the first half of the year, but also on our Outlook for the third and fourth quarters of 2018, and will act accordingly,” – said the Minister of energy and industry of Saudi Arabia Khalid al-falih.

See also: OPEC plus. Why on the world market rose sharply, oil prices

Recall that the current agreement OPEC and some countries outside of the organization provides for the restriction of the global oil production to 1.8 million barrels per day before the end of the first quarter of 2018. The share of Russia accounts for 300 thousand barrels of this amount.

OPEC extended the oil of the Covenant until the end of 2018 30.11.2017

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