Russia’s Novak: ‘Our decision on OPEC+ recommendation will be in a matter of days’

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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