PARIS (Sputnik) – Angola's minister of petroleum said Thursday he expects the Organization of the Petroleum Exporting Countries (OPEC) to reach an oil output extension decision in May even if Russia declines to take part.
"I think so, yes," Jose Maria Botelho de Vasconcelos told reporters when asked if the decision could be expected at OPEC's next meeting in Vienna on May 25.
The Angolan minister said the cartel would decide on a six-month output cut extension if oil prices do not grow, naming $60 per barrel as a reasonable target.
Botelho de Vasconcelos added that OPEC's decision would be reached even if non-member Russia opted out of the extension.
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