Russia’s Novak: Russia has potential to add 300,000 bpd within 12 months

Russia’s Energy Minister Novak is back on the wires now, this time commenting on the Russian oil supplies.

Key Headlines:

Russia has the potential to add 300,000 barrels per day (bpd) within 12 months.

Not ruling out an oil price decline on weaker winter demand.

Further supply decision will depend on market.

Countries have potential to raise oil output.