Russia says still a risk of excessive oil output, sharp price fall - Reuters

Russia says still a risk of excessive oil output, sharp price fall - Reuters:

There is a still a risk that oil producers pump out too much crude and prices fall sharply, Russia’s energy minister said on Monday, suggesting Moscow might support an extension of output cuts at a meeting of leading oil producing countries next month.

The Organization of the Petroleum Exporting Countries and some non-members including Russia, known collectively as OPEC+, have curbed supplies since January to prop up prices.

Earlier on Monday, Saudi Energy Minister Khalid al-Falih said Russia was the only oil exporter still undecided on the need to extend the curbs - due to expire this month - until the end of the year, according to TASS news agency.