TASS, Moscow :
Reduced production of OPEC member-states and other oil-exporting countries agreed at a meeting in Vienna in December will stabilize the oil market by the summer, Russia’s Energy Minister Alexander Novak said in an interview aired by the Rossiya-24 TV news channel on Tuesday.
“I think that the joint efforts agreed by OPEC and non-OPEC countries in December in Vienna will stabilize the situation, balance it in the first half (of 2019 – TASS). The demand will traditionally grow during the summer, which is why I think the market will be balanced,” he said.
OPEC+ ministers discussed the opportunity for oil output reduction in 2019 at the meeting in Vienna on December 5-7.
Reduced production of OPEC member-states and other oil-exporting countries agreed at a meeting in Vienna in December will stabilize the oil market by the summer, Russia’s Energy Minister Alexander Novak said in an interview aired by the Rossiya-24 TV news channel on Tuesday.
“I think that the joint efforts agreed by OPEC and non-OPEC countries in December in Vienna will stabilize the situation, balance it in the first half (of 2019 – TASS). The demand will traditionally grow during the summer, which is why I think the market will be balanced,” he said.
OPEC+ ministers discussed the opportunity for oil output reduction in 2019 at the meeting in Vienna on December 5-7.
