At the last meeting of OPEC, the delegates of the countries participating in the OPEC Treaty + 11 decided to extend the term of this agreement for another nine months. Such a step should be ratified by those parties to the agreement who are not members of the cartel. Some of them, such as the Russian Federation, have already announced publicly that they will support such a scenario. Most likely, the other parties to the agreement will follow the example of Russia, and give their formal consent. This decision will meet with strong resistance from US President Donald Trump, who has repeatedly spoken publicly in criticism of such a strategy.

According to the representative of Saudi Arabia in the OPEC cartel, this time period will allow all countries to have time to develop a new strategy for trading "black gold" after all restrictions have been lifted. However, critics of OPEC+11 are confident that this is another excuse designed to camouflage the true reason for the extension of the deadlines, namely, the desire to make more money against the background of an artificially created shortage of raw materials.

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The Arab delegate also expressed his confidence that in the second half of 2019 the market would be able to “absorb” the surplus of raw materials. This is especially true of China, from which everyone expects a significant increase in oil consumption. At the same time, the Minister of Energy of Saudi Arabia, Khalid al-Falih, assured journalists that within OPEC+11 countries have no veto on their own opinion, and each delegate can openly express the position of his people.

At the same time, the official did not comment on the statements of some experts that all the most important aspects of the OPEC+11 treaty are thoroughly discussed between the heads of only two states: Russian President Vladimir Putin and Saudi Arabian Crown Prince Mohammed bin Salman.

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