LONDON (Reuters) - OPEC and top oil producers are likely to extend a deal to curb output as Russia and Saudi Aramco agree on the need to support the market, the chief executive of Total (TOTF.PA) said on Wednesday
“Saudi Arabia and Russia have really embarked on this strategy to support the market,” Patrick Pouyanne told reporters on the sidelines of the Oil & Money conference
A visit by the Saudi king to Moscow recently “is a clear signal (that) it is in the interest of both countries to support the market ... I will not be surprised to see the extension,” he said.
OPEC and several non-OPEC producers agreed late last year on a six-month deal from January to reduce production in order to tackle a global supply glut. The deal has been extended until March 2018.
Reporting by Ron Bousso. Editing by Jane Merriman