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Saturday, 13 January 2018

Russia's Novak says to discuss possible exit from OPEC+ deal in Oman | ZAWYA MENA Edition

Russia's Novak says to discuss possible exit from OPEC+ deal in Oman | ZAWYA MENA Edition:

"Ministers from leading OPEC and non-OPEC producers will discuss the possibility of a smooth exit from a global deal to cut oil output next week, Russia's energy minister said on Friday. Russia and Saudi Arabia are leading a joint OPEC and non-OPEC effort to limit production to prop up prices. Brent crude oil futures LCOc1 have risen by more than 50 percent since mid-2017, hitting $70 a barrel this week for the first time since December 2014. Russian Energy Minister Alexander Novak said the current oil price level was short term and he would discuss the situation at a ministerial monitoring committee meeting in Oman, which is scheduled for Jan. 21 next week. "



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