😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

Russia's Novak says decision on future of oil supply cut pact by May-June

Published 17/03/2019, 16:18
© Reuters. Russian Energy Minister Novak attends Russian Energy Week forum in Moscow

BAKU (Reuters) - Russian Energy Minister Alexander Novak said on Sunday that a decision would be made by May or June on whether to continue with an ongoing oil output pact between OPEC and non-OPEC members through the second half of this year.

Novak said that Russia was committed to the supply cut pact, which is due to expire in June.

© Reuters. Russian Energy Minister Novak attends Russian Energy Week forum in Moscow

Currently, the group sees oil prices as being stable, with volatility low, Novak said. Demand will rise in the second and third quarters, he added.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.