“There is no need for Russia to cut its oil output,” Russian Deputy Prime Minister Alexander Novak told RBC media on Thursday.
“OPEC+ role is on the rise due to uncertainties with demand and supply in China, Iran, Libya and Venezuela,” Novak added. “We don’t have plans to switch to an oil-for-rubles scheme.”
the market’s reaction for crude oil prices was edging slightly lower following these comments. West Texas Intermediate was trading at $115.15, where it was down 0.6% on a daily basis.
Tags crude oil prices novak ruble
Check Also
Policymaker: ECB’s first rate cut can be in June, second in September
Bundesbank President Joachim Nagel has advised the European Central Bank (ECB) to exercise caution in …