Novak: OPEC+ charter to be finalized at next meeting

The OPEC+ charter will be finalized at the next meeting of OPEC and non-OPEC countries ministers, Russian Energy Minister Alexander Novak said during a press conference following the OPEC+ meeting in Baku, Trend reports.

"During today's meeting, we discussed the preparation of the OPEC+ charter. At the next OPEC+ ministerial meeting the charter will be finalized," Novak said.

He noted that the agreement of OPEC+ expires in June of this year.

"In May and June, it will be necessary to decide what to do in the second half of the year. We remain commited to OPEC+ agreement. We see a positive result of this agreement," the minister added.

The 13th meeting of the Joint OPEC and non-OPEC Ministerial Monitoring Committee will be held in Baku on March 18. Baku hosted the 27th meeting of the Joint Technical Commission on March 17. The participants discussed the current situation in the oil market, existing problems and other issues. The presentation on the pace of development of the oil market was held and the report of the Joint Technical Commission on oil production indicators for February was heard during the meeting.