“In general, I believe that the OPEC + format will retain its relevance, and in the future, the issue of joint quotas for limiting oil production in accordance with market demand may be raised again due to lower prices,” he told RIA Novosti.
Akhmedov added that the OPEC + format has not exhausted itself.
“The expert community agrees that the common goals of the participants of this format, which originally united them, continue to remain relevant - this is the desire to jointly regulate oil markets and the desire to avoid a long-term drop in oil prices,” he added.
Earlier, Russian Energy Minister Alexander Novak said that the increase in oil production by Russia since April, when the restrictions within the framework of the OPEC + deal end, will depend on the plans of the companies.
At the March 6 meeting, the OPEC + countries were unable to agree on either an additional reduction or extension of the transaction under current conditions.