DOHA (Reuters) - Qatar’s energy minister Mohammed al-Sada said on Tuesday there was a need to develop a plan for oil markets beyond March and that now was the appropriate time to look at it.
“One of the possible options is to use this agreement and this structure and possibly move it forward,” he told reporters on the sidelines of an event in Doha.
Sada also said OPEC members and other countries participating in the pact to cut oil supplies had been successful in implementing their commitments.
“I think OPEC will certainly look at all scenarios but certainly OPEC and the participating countries have been very successful in implementing their commitment,” he said.
“They developed an excellent set up and this set up is a very good foundation to be fully utilized beyond March this year.”
Reporting by Alexander Cornwell; writing by Maha El Dahan; editing by David Clarke