Russia’s Novak: OPEC and allies can keep output quotas in place even after 2018

Reuters reports the latest comments delivered by Russia’s Energy Minister Alexander Novak, with the key headlines found below.

OPEC and allies can keep output quotas in place even after this year.

OPEC + to discuss post-2018 cooperation at Algiers meeting.

OPEC+ has tools to use quotas if the market needs.

The OPEC + meeting in Algiers is scheduled to take place on September 23^rd.

Meanwhile, the US Energy Department (DOE) said in its statement released late-Monday that the US Energy Secretary Perry and Saudi Arabian Oil Minister Al-Falih discussed the state of world oil markets, the potential for US.-Saudi civil nuclear cooperation and efforts to share technologies to develop “clean fossil fuels” during their meeting in Washington a day before.