OPEC and allies most likely to agree 1-month extension to output cuts: OPEC delegate

The logo of OPEC is pictured at the OPEC headquarters in Vienna. (File photo: AFP)

OPEC and its allies led by Russia are “most likely” to agree on a one-month extension to an oil production cuts deal on Saturday, an OPEC delegate said.

Latest: OPEC+ set to approve July oil production cuts

The delegate, who spoke on condition that he not be identified, said: “It is most likely that the meeting today will result in an extension of the agreement for one month only. This is the general trend within OPEC+.”

The oil producing states meet on Saturday to approve extending record oil production cuts and to push countries such as Iraq and Nigeria to comply better with existing curbs.

Read more: Iran approves Amirhossein Zamaninia as OPEC governor: Oil official

Last Update: Saturday, 06 June 2020 KSA 17:38 - GMT 14:38