At the meeting of the OPEC Monitoring Committee, which was held in Abu Dhabi, it was decided to seek full implementation of the terms of the agreement to reduce oil production. The committee consists of the ministers of six countries: Saudi Arabia, Russia, Venezuela, Oman, Kuwait and Algeria. Russian Energy Minister Alexander Novak said during a press conference that no new decisions would be made yet. But the participants of the deal are ready to react quickly if there are any important events in the market. The oil alliance has all the tools to do this. The Committee intends to closely monitor the potential for difficulties. By March 31, 2020, the parties to the agreement must 100% fulfill their commitments to reduce oil production. The total reduction in oil production should reach 1 million 200,000 barrels per day.