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OPEC, non-OPEC members to discuss Qatari withdrawal influence on oil deal

ANI  |  Moscow [Russia] 

The of the Organization of the Exporting Countries (OPEC) and will be discussing on Wednesday the influence that withdrawal from may have on the cut deal, Russian Minister said here on Tuesday.

"We'll discuss it tomorrow," he told reporters on the sidelines of a forum.

On Wednesday, the 175th ordinary meeting will be held in Vienna, while the Austrian capital will also host meetings of the and non-OPEC Joint and of all signatories of the cut deal.

On Monday, announced its decision to withdraw from OPEC on January 1, 2019, in order to concentrate on boosting its liquefied

OPEC and several non-OPEC reached a deal in in 2016 to cut by a total of 1.8 million barrels per day in an effort to stabilize global Non-OPEC states pledged to jointly reduce oil output by 558,000 barrels per day. The agreement, which came into effect in 2017, has been extended twice since then and is set to remain in force until the end of 2018.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 04 2018. 16:05 IST