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        Some oil exporters suggest extending the reduction agreement for six months


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Iraqi oil minister Luibi (Jabar Ali al-Luaibi) said on Wednesday that some oil exporting countries recommended that the oil production reduction agreement between the organization of Petroleum Exporting Countries (OPEC) and non OPEC oil producers be extended for six months.
OPEC member countries and Russia's non OPEC oil producing countries agreed to extend the international production reduction agreement to the end of 2018 last November, because it tried to end the global oil supply surplus situation. At the same time, it also implied that if the oil market overheated, it would be possible to quit the production reduction agreement earlier.
Luyi than did not disclose the what nation is proposed to extend the term of the agreement to cut.


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