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Saudi's Falih expects 'reasonable and moderate' oil agreement next week

Reuters  |  MOSCOW 

By Vladimir Soldatkin

(Reuters) - Saudi expects a "reasonable and moderate" agreement next week when OPEC and non-OPEC meet in Vienna, he told reporters in on Thursday.

The meeting between OPEC and non-OPEC nations, led by and Russia, is expected to decide next week whether their current pact to curb needs to be adjusted, as a recent rise in the has raised concerns among some participants.

Falih, on a visit to to attend opening, where the Russian and Saudi Arabian national soccer teams will play on Thursday, is due to meet Russian and before the game.

Saudi is expected to arrive to Moscow on Thursday for talks with Putin and the game as well, just a week before the agenda-setting OPEC+ meeting in [nR4N1T8027]

Falih, asked if he had heard a proposal to increase combined by 1.8 million barrels per day, which would erase the cuts producers are currently observing, said: "We will see where we go, but I think we'll come to an agreement that satisfies, most importantly, the market."

Falih also said that he did not expect disputes with and at the OPEC meeting next week. and Venezuela, both OPEC members, oppose a proposal to increase

Asked about the Russia-match, Falih said: "It will be a tight game".

(Reporting by Vladimir Soldatkin; writing by Katya Golubkova; editing by Jason Neely)

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

First Published: Thu, June 14 2018. 17:06 IST