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The current oil price more or less reflects the balance between producers and consumers, Russian Foreign Minister Sergey Lavrov said on Wednesday, Reuters reported  citing Interfax news agency.

Additional takeaways

“Moscow and Saudi Arabia are discussing possible Sputnik V  vaccine production in Saudi Arabia.”

“OPEC+ will try to ensure there are no sharp oil price swings.”

“Recent attack on Saudi oil facilities was unacceptable.”

Market reaction

These comments were largely ignored by market participants and the barrel of West Texas Intermediate (WTI) was last seen gaining 0.6% on the day at $64.22.