OPEC countries are guided by the extension of the agreement on freezing oil production levels.

"There is agreement and focus on the extension (freeze-ed), as this will lead to price stabilization," Iraqi Oil Minister Jabbar al-Laibi said in a RIA Novosti commentary..

According to him, OPEC will discuss the extension of the agreement on May 25 at a regular meeting in Vienna.

OPEC countries agreed on reducing oil production after a year of disputes. It was decided from January 1, 2017 to reduce oil production by 1.2 million barrels a day - up to 32.5 million. At the same time, the agreement presupposes participation of countries outside the cartel. It is designed for six months with the possibility of extending for another six months.