8 Jun 2017 13:37

Long-term extension of OPEC+ agreement will destabilize oil market - Energy Ministry

MOSCOW. June 8 (Interfax) - A long-term extension of the OPEC+ agreement to cut oil output will only destabilize the oil market, the deputy head of the Energy Ministry's oil and gas production and transportation department, Andrei Tereshok, said at a conference discussing Russia's oil market in 2017.

"I think that [the deal] will be of a short-term character. In the long-term it will destabilize the market," he said.