“Today it was decided that the parameters that were in June, to reduce by 9.7 million barrels per day, should be extended for another month - in July, to strengthen the impact of the transaction, to balance the market, and reduce risks and uncertainty” - TASS quoted Novak as saying.

He noted that Mexico retains participation in the deal.

"The only thing that has changed - (in plans for July) was 7.7 (million barrels per day reduction in production), and now 9.7 (million barrels per day) along with Mexico," the Russian minister said.

Earlier it was reported that OPEC + unanimously agreed to extend the current reduction in oil production until the end of July this year.