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Reuters: Russia May Support an Extension of Global Oil Cuts After 2020

Adel 20 October, 2020 5:38 pm Commodities, Market Update

Two industry sources told Reuters that Russia may support keeping global oil production cuts unchanged after 2020 when it is time to ease them if global market conditions deteriorate due to slowing demand and increasing cases of coronavirus.

Russian Energy Minister Alexander Novak said last week that OPEC + would start easing production cuts as planned, despite a global jump in coronavirus cases.

“The Russians are studying support for an extension beyond December 2020, despite Novak’s statements”

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