Saudi Energy Minister hopes OPEC agrees to extend production cut 'early July'

Shares
Saudi Energy Minister hopes OPEC agrees to extend production cut 'early July'

Saudi Energy Minister Khalid al-Falih said OPEC would  meet in the first week in July in Vienna and  he hoped it would reach consensus on extending its agreement to cut oil output.

Falih said earlier this month that OPEC was close to agreeing to extend the agreement beyond June although more talks were still needed with non-OPEC countries that were part of the production deal.

The Organization of the Petroleum Exporting Countries plus Russia and other producers have a deal to cut output by 1.2 million barrels per day.