Russian Energy Minister Alexander Novak is on the wires now, via Reuters, noting that they will announce their decision on OPEC and its allies’ (OPEC+) proposal to extend or deepen the global oil supply cuts next week.
“Our decision on OPEC+ recommendation will be in a matter of days”, he added.
Both crude benchmarks are seeing a fresh round of selling, as the bears fight back control amid Russia’s uncertain comments. WTI wipes out gains and trade neutral near $51 while Brent also trades modestly flat, battling the 55 handle.
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