Peskov: Moscow, Riyadh make no new OPEC+ decisions, work goes on

MOSCOW, Feb 25 (PRIME) -- Discussions with the partners on new proposals in the OPEC+ deal continue, no decisions have been made, Russian presidential spokesperson Dmitry Peskov told reporters on Tuesday.

“There is no news here, work with our partners goes on. No decisions have been made yet,” he said.

Earlier in February, the Wall Street Journal reported citing sources with knowledge of the situation that Saudi Arabia was about to break a four-year alliance with Russia due to an outbreak of coronavirus in China which hurts global oil demand.

In November 2016, OPEC and non-OPEC states including Russia first decided to reduce their oil output to rebalance the market, and agreed on additional reduction in December 2018. In July, they prolonged the deal until April 2020. According to the latest amendments, the agreement stipulates a production cut by 2.1 million barrels per day.

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