Tuesday 3 December 2019

Russia sees constructive OPEC+ meeting as Saudis seek deeper oil cut - Reuters

Russia sees constructive OPEC+ meeting as Saudis seek deeper oil cut - Reuters:

Russia expects a “constructive” meeting with OPEC producers this week, its energy minister said on Tuesday, as OPEC leader Saudi Arabia presses members and allies such as Russia to deepen output cuts to avoid a new glut next year.

The Organization of the Petroleum Exporting Countries (OPEC) meets on Thursday in Vienna followed by a meeting with allies, known as OPEC+, on Friday.

“We are still finalizing our position,” Russian Energy Minister Alexander Novak said when asked about Moscow’s stance before the talks. “Let’s wait ... But I think the meeting, as usual, will be of a constructive nature,” he told reporters in Moscow.

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