Report: Angola first OPEC+ state to support oil cut deal extension

MOSCOW, Aug 24 (PRIME) -- Angola became the first among OPEC+ states to support prolongation of an oil production cut agreement expiring on April 1, 2018, The Wall Street Journal said citing Petroleum Minister Jose Maria Botelhos de Vasconcelos on Thursday.

The official said that Angola will endorse prolongation of the Vienna agreement if all its members come to an agreement.

It is better to cut oil production to push prices higher than produce maximum volumes and sell them at a low price, he said.

(59.1312 rubles – U.S. $1)

End