Putin does not exclude extension of global oil output cut deal


MOSCOW – Russian President Vladimir Putin said on Wednesday he did not exclude that the global oil output cut deal between OPEC and non-OPEC nations could be extended until the end of 2018.

“Everyone is interested in a stable market. What we have achieved together with OPEC is beneficial for the entire global economy,” Putin told an energy forum in Moscow, referring to the current oil output cut deal.

“Whether we will extend these agreements or not will depend of the situation shaping up on the world market. In principle, I do not exclude this. But we will proceed from the real state of things that we will have in March 2018.”

Reporting by Jack Stubbs and Katya Golubkova; Writing by Olesya Astakhova and Dmitry Solovyov; Editing by Andrey Ostroukh(Reuters)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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