Home Russia’s Novak: Oil output can be increased in case of oil deficit on market

Russia’s Novak: Oil output can be increased in case of oil deficit on market

Updated: 26 Sep. 2018 | 16:18

Russian Energy Minister Alexander Novak recently crossed the wires saying that the oil output could be increased in case of oil deficit on the market.

Key quotes (via Reuters)

Sees balanced level of oil prices at $70-80/bbl.
No one interested in high oil prices.
OPEC+ countries have capacity to increase oil output to 100% this year.
Russia can increase oil output, but won’t necessarily do it.

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