Russia offers Turkmenistan to join OPEC deal

2017-10-03 06:56:42

(MENAFN- Trend News Agency ) Baku, Azerbaijan, Oct.3

By Leman Zeynalova- Trend:

Russia has invited Turkmenistan to join the OPEC oil output cut deal, Russian Energy Minister Alexander Novak told reporters.

Novak said that Turkmenistan has also been invited to take part in the gas exporting countries' forum (GECF), RIA Novosti reported.

Turkmenistan is not going to officially join the deal, but is ready to be an observer and take part in discussions on the current market situation, he added.

On May 25, OPEC member countries and non-OPEC parties, Azerbaijan, Kingdom of Bahrain, Brunei Darussalam, Kazakhstan, Malaysia, Mexico, Sultanate of Oman, the Russian Federation, Republic of Sudan, and the Republic of South Sudan agreed to extend the production adjustments for a further period of nine months, with effect from July 1, 2017.

The reductions will be on the same terms as those agreed in November.

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