Russia Sees Global Oil Market Balanced Thanks to OPEC+ Actions
A worker passes an oil drilling rig near Nizhnevartovsk, Russia.
Source: BloombergThis article is for subscribers only.
The global oil market will remain balanced even when some members of the OPEC+ alliance gradually start to increase production, Russia’s Deputy Prime Minister Alexander Novak said.
While the Organization of Petroleum Exporting Countries and its allies have agreed to roll back some of their output curbs from later this year, the alliance “will assess the current situation,” Novak said in Russia’s southern city of Grozny, according to media reports.