In an interview with the Russian media outlet, Interfax (IFX), the country’s Deputy Energy Minister Pavel Sorokin said that the OPEC and its allies (OPEC+) remain in contact despite the fallout in the oil output cut policy in February.
He predicted that the US oil production could fall by 1.5mln b/d in 2020 with the oil price at $30-$35 barrel.
Oil price reaction
Oil prices are trading mixed so far this Friday, with WTI up nearly 1% at $22.80 while Brent oil drops by that much to trade around the 26 mark.
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