Novak: OPEC+ deal needed after 2022, Russian cos back it

MOSCOW. Sept 1 (Interfax) - The OPEC + agreement has proved its worth, and Russia supports the idea of extending it, Deputy Prime Minister Alexander Novak told reporters.

"The cooperation achieved in 2016 has proved to be effective in various situations in that time. The 2020 pandemic periods got through the crisis successfully. My point of view is that we need to continue such cooperation. We have discussed this with our oil companies, they also support it," Novak said.

He said he thought the countries participating in the agreement would discuss a possible extension in the fall, but most likely not at the next meeting of the alliance on September 5, at which a decision on oil production quotas for October will be reached.

"Recently we have been reaching one-month decisions, because there is a lot of market uncertainty and unpredictability. So we'll be making a decision based on that," he said.