Petroleum Association of Japan President Takashi Tsukioka said on Thursday that OPEC and other producers are likely to agree to extend an existing deal to cut oil output by 1.2 million barrels per day when they meet next month.

His comment came after President Vladimir Putin said on Wednesday that Russia and the Organization of the Petroleum Exporting Countries (OPEC) have ‘a common goal’ of keeping the oil market balanced and predictable, and Moscow will continue cooperation under the global supply curbs deal.

OPEC meets on Dec. 5 in Vienna, followed by talks with a group of other exporters, including Russia, known as OPEC+.


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