Mubasher: The Qatari energy minister said on Tuesday that his country would support an extension of the global oil output cuts if needed, as reported by Reuters.
The decision regarding the matter will be reviewed critically and if the conference sees the benefit of an extension, Qatar will support it,” Mohammed Al Sada told Reuters, referring to the Organization of the Petroleum Exporting Countries (OPEC) summit, which will take place in Vienna next month.
It is worth noting that the Organization of the Petroleum Exporting Countries (OPEC) along with Russia and other major non-OPEC producers agreed to cut output by around 1.8 million bpd from 1 January 2017 until March 2018.
OPEC will meet in Vienna on 30 November to decide on its output policy and OPEC officials have said the supply-cutting pact is likely to be extended beyond March.
Compliance with the agreed production cuts reached 120% in September.
This shows how committed OPEC and non-OPEC countries are towards implementing the agreement,” the minister added.
