This site uses cookies. By accepting cookies you can optimise your browsing experience. Read more.
Russia: EnMin Novak hopes for new OPEC+ output cuts ‘to avoid oil market collapse’03:30

Russia: EnMin Novak hopes for new OPEC+ output cuts ‘to avoid oil market collapse’

Russian Federation, Moscow
April 03, 2020 at 21:05 GMT +00:00 · Published

Russian Energy Minister Aleksander Novak commented on the upcoming OPEC+ negotiations following a meeting with Russian President Vladimir Putin in Moscow on Friday.

“We should take measures which would provide market stability as soon as possible. We need to agree on production cuts in the next few months and keep monitoring, to stabilise the market and prevent an oil market collapse,” the minister said.

He described the current situation as “difficult” due to both the consequences of the COVID-19 outbreak and the OPEC+ agreement collapse. Novak also said Russia’s “partners” had affected the market in a "negative way," as he put it, by taking their chances to get back their market share by boosting output.

OPEC+ is expected to have the next videoconference meeting on April 6, the Azerbaijani Energy Ministry reports.

Russia: EnMin Novak hopes for new OPEC+ output cuts ‘to avoid oil market collapse’03:30
Pool for subscribers only
No Account? Sign up!
Description

Russian Energy Minister Aleksander Novak commented on the upcoming OPEC+ negotiations following a meeting with Russian President Vladimir Putin in Moscow on Friday.

“We should take measures which would provide market stability as soon as possible. We need to agree on production cuts in the next few months and keep monitoring, to stabilise the market and prevent an oil market collapse,” the minister said.

He described the current situation as “difficult” due to both the consequences of the COVID-19 outbreak and the OPEC+ agreement collapse. Novak also said Russia’s “partners” had affected the market in a "negative way," as he put it, by taking their chances to get back their market share by boosting output.

OPEC+ is expected to have the next videoconference meeting on April 6, the Azerbaijani Energy Ministry reports.

Top downloads in last 24 hours
03:14
'This will become a trend' - Chennai studio introduces faceprint masks
May 27 at 09:15 GMT +00:00
03:30
USA: Protesters clash with police over George Floyd's death in Minneapolis
May 27 at 09:53 GMT +00:00
03:26
Indonesia: Military deployed in Jakarta MRT stations to enforce 'new normal' amid COVID crisis
May 27 at 16:15 GMT +00:00
03:07
Denmark: Students attend classes at stadium-turned-classroom in Copenhagen
May 27 at 21:32 GMT +00:00
03:12
India: Heat wave strikes Delhi as temperatures soar to 47 degrees Celsius
May 27 at 20:28 GMT +00:00
01:30
UAE: Dubai speed radars set up to detect coronavirus curfew offenders
May 28 at 02:22 GMT +00:00
01:38
USA: Police fire tear gas at protesters decrying George Floyd's death
May 28 at 07:21 GMT +00:00
03:31
Could these Plexiglass shields become future of post-COVID dining?
May 28 at 06:12 GMT +00:00
Pool for subscribers only
03:36
USA: SpaceX's 'historic mission' postponed to Saturday due to weather conditions
May 27 at 23:47 GMT +00:00
01:03
USA: Police block road following looting and protests over George Floyd's death in Minneapolis
May 28 at 04:18 GMT +00:00
Pool for subscribers only
02:09
Germany: Trial against suspected former Syrian officers accused of torture resumes in Koblenz
May 27 at 18:58 GMT +00:00
Pool for subscribers only
02:10
Germany: Torture trial of suspected former Syrian officers continues in Koblenz
May 28 at 12:41 GMT +00:00
01:59
Hong Kong: Demonstrations and clashes continue after hundreds arrested
May 27 at 15:48 GMT +00:00
03:10
USA: Mourners in Minneapolis hold vigil for George Floyd, protest police violence
May 28 at 11:36 GMT +00:00
04:03
Whatever floats your HOME! Latvian architect designs mobile house-boat-trike
May 27 at 21:56 GMT +00:00
03:01
Turkey: Istanbul park launches 'social distancing' rings
May 26 at 20:22 GMT +00:00
02:13
USA: LA protesters block highway, burn US flag over George Floyd killing
May 28 at 11:09 GMT +00:00
00:26
Police-style moonwalk! German officer shows off his moves in central Berlin
May 28 at 00:40 GMT +00:00
00:45
'Mom, the roof has flown away!' Windstorm rips off store’s roof in Russia's Mariinsk
May 27 at 22:19 GMT +00:00
01:38
USA: Businesses near Floyd demonstration looted while police use tear gas on protesters
May 28 at 10:21 GMT +00:00
Pool for subscribers only
02:59
Spain: Nissan workers burn tyres in protest against closure of factories in Catalonia
May 28 at 12:28 GMT +00:00
01:29
Japan: Yokohama panic buying leaves supermarket shelves empty
March 17 at 18:13 GMT +00:00
View all videos