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The deal, which runs out at the end of this year, has succeeded in boosting oil prices above USD 70 a barrel from below USD 30 a barrel in early 2016.
"I call for the signatories of the (cooperation) declaration agreement, those 24 nations from OPEC and non-OPEC, to continue the dialogue, the understanding and commitment in maintaining the market conditions that will encourage investment," Omani Oil Minister Mohamed al-Rumhi told an oil conference in Kuwait.
He also called for enhancing "collaboration and work together to ensure security of supply for consumers and security of demand for producers".
"A year ago, there was a surplus of 340 million barrels of oil. At the end of February, the surplus dropped to 50 million barrels and we believe we are on the right path to get rid of this surplus," Rasheedi told reporters.
"Market conditions will determine whether the deal will be extended beyond 2018 or arrive at a permanent agreement... to support the market on a long-term basis," he said. OPEC kingpin Saudi Arabia, the United Arab Emirates and several other countries have called for striking a long-term cooperation deal to stabilise the oil market.
"In the months ahead, we will look to institutionalise this long-term framework for continuity with an inclusive and broad-based participation," Barkindo said.
The joint ministerial committee of OPEC and non-OPEC ministers, which monitors compliance to production cuts, meets in Jeddah, Saudi Arabia on Friday to review adherence and discuss long-term cooperation.
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