22 May 2018

Extension of OPEC+ agreement will be challenging

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OPEC+ agreement is expected to suspend its operations on April 1, 2018. reports citing TASS.

This can be the reason for Russia's withdrawal from the agreement. Thus, according to survey conducted by TASS analysts, probability of extension of sanctions after March 2018 is very little.

According to the analysts, most of all Russia wants to quit this deal. From the very beginning official Moscow hardly agreed to cut production. Because Russia has made significant investments in new projects in recent years, which should ensure that the country will increase its production by at least until the end of 2019.

Analyst at Sberbank Valeriy Nesterov believes, Russia will probably not agree to extend the agreement on production cut. In such a manner, Oilmen want to take maximum advantage of current production growth potential and don’t intend to share their own consumer market: " Apart from Russia at the moment, many countries in the oil sector want to end the deal."

According to the head of corporation department at Fitch international rating agency Dmitry Marinchenko, this time it will be difficult to reach agreement on extension of agreement.

2017.08.07 / 20:44
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