Russian Energy Minister Alexander Novak said Friday that no decision have been taken on extending the agreement reached in Vienna to reduce global oil production.

Novak explained that the Organization of the Petroleum Exporting Countries (OPEC) and other non-OPEC oil producers will not reach any decision concerning this matter before January.

He said in a press statements to reporters that January is the closest time to hold credible talks on the situation of the oil market.

The Russian minister made these remarks after attending a meeting of oil ministers of relative countries in Vienna, the Russian news agency RIA Novosti reported.

Oil ministers of Kuwait, Venezuela, Algeria, Saudi Arabia, Russia and Oman attended the meeting.

Source : Mena