Russian oil producers and the Energy Ministry are set to discuss the Petroleum Exporting Countries’ (OPEC) output cut deal at the end of this week ahead of next week’s meeting, Russia’s Energy Minister Alexander Novak said on Tuesday, as reported by Russian news agency TASS.
Crude oil’s reaction to this comment was relatively muted. As of writing, the barrel of West Texas Intermediate was trading at $58.30, adding 0.65% on a daily basis while the barrel of Brent was up 0.5% on the day at $63.85.
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