20:21 GMT +318 November 2017
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    The OPEC flag and the OPEC logo are seen before a news conference in Vienna, Austria, October 24, 2016

    OPEC Deal Oil Output Monitoring Committee May Meet in January-February

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    The monitoring committee overseeing the oil output agreement between the Organizations of the Petroleum Exporting Countries (OPEC) and a number of other oil producing states may gather for its first meeting in January-February, Russian Energy Minister Alexander Novak said Thursday.

    NAGATO (Japan), (Sputnik) — On Saturday, OPEC finished a meeting with non-OPEC countries in Vienna, where non-OPEC countries decided to cut oil output by 558,000 barrels a day with Russia cutting the output by 300,000 barrels per day.

    "The date [of the meeting] has not been scheduled yet and the countries which entered the monitoring group, are in the process of agreeing the date. I think it has to be either late January or February. [It will happen] Within this period, but it must be further negotiated by the countries which will participate in the monitoring group," Novak told journalists.

    In November, OPEC agreed to cut oil production by 1.2 million barrels per day for the whole cartel.

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    Tags:
    oil production, oil output, OPEC, Alexander Novak, Russia, Vienna
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