Russia to attend OPEC+ Joint Technical Committee meeting

Russia will be represented at the OPEC+ Joint Technical Committee (JTC) meeting scheduled for March 18, Russian Energy Minister Alexander Novak told reporters, Report informs.

"We kept the format of relations as part of the Charter unchanged," the minister said. "My colleagues and I continue to monitor the situation, and we will communicate because the market situation is important for everyone."

At the end of last week, OPEC and Russia failed to agree on the preservation of the oil production cut deal. After this, over the weekend, Saudi Arabia decided to lower prices for its supplies and increase production to build up its market share.