(Reuters) OPEC and non-OPEC oil producers will agree at a meeting on Thursday to extend an output-cutting deal until the end of 2018, four sources familiar with the matter said.
The producers’ current deal, under which they are cutting supply by about 1.8 million barrels per day in an effort to boost oil prices, expires in March.
“They will agree on the nine months,” an OPEC delegate said, adding that the meeting, due to start around 0900 GMT, was expected to be smooth.
A second source said: “No surprises ... all are for nine months.”
Two other sources made similar remarks.
The 14-member Organisation of the Petroleum Exporting Countries and Russia have signalled that they may review any extension of the deal when they meet again in June if the market overheats.