OPEC and Allies Agree to Meet in Early July

Vienna, Jun 23 (Prensa Latina) The Organization of Petroleum Exporting Countries (OPEC) and a group of major oil producers, including Russia, officially agreed to postpone their meetings to July 1 and 2.

It was reported that the 176th ordinary meeting of OPEC, to be attended by the ministers of Energy and Oil from all 14 member countries, will take place on July 1.

On July 2, the OPEC ministerial meeting will be held, with participation of ten oil-producing countries that are allies of the bloc.

The group and the other countries that make up the pact are expected to agree on extending the deal to cut oil production until late 2019.

In 2018, the organization and its allies agreed to reduce production by 1.2 million barrels a day during the first semester of this year, in order to increase and control prices.