Riyadh – Mubasher: Saudi Arabia is reportedly proposing the extension of OPEC+ oil output cut agreement to the end of 2019.

The de facto leader of OPEC recommended the maintenance of current production quotas, Russia’s news agency TASS reported on Tuesday.

Earlier in March, a Saudi official stated that the kingdom was planning to slash its crude oil exports in April to below 7 million barrels per day (bpd), along with maintaining its output “well below” 10 million-bpd threshold.

OPEC members last December agreed with Russia on significantly cutting oil production in a bid to clear a global supply glut.