Restrictions on oil production should be valid for at least 9 months. To such a decision came the participants of the Organization of Petroleum Exporting Countries (OPEC) on Thursday, May 25.

The agreement on the reduction of oil production remains in force until March 31, 2018. About this agreement at a meeting in Vienna of countries in the format of OPEC +, that is, members of the cartel plus oil-producing states not included in it, including Russia, reports Bloomberg. Producers of "black gold" still do not like the price of a barrel, and they are afraid that the release of additional volumes on the market will finally succeed in the industry.

At the end of last year, OPEC's agreement on the freezing of production volumes on current indicators led to the fact that the barrel of Brent oil went up from $ 45 to $ 57. It's better, as they say, but still not enough. As Iranian Oil Minister Bijan Namdar Zangane said before the meeting on Thursday, the optimal price level for the cartel is $ 55-60 per barrel.

A similar opinion is shared by other manufacturers.

The monitoring committee for the reduction of oil production, which includes the profile ministers of Russia, Saudi Arabia, Venezuela, Algeria, Kuwait and Oman, has previously recommended the cartel to extend the agreement for at least nine months. It could have been, of course, longer, but Saudi Arabia warned - we will not look so far.

As a result, the recommended 9 months and agreed upon. Now the price of the barrel of Brent can grow up to $ 55-60, the opinion of Citigroup analysts quotes Vedomosti..