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Russia’s Novak: Russia has potential to add 300,000 bpd within 12 months

Russia’s Energy Minister Novak is back on the wires now, this time commenting on the Russian oil supplies.

Key Headlines:

Russia has the potential to add 300,000 barrels per day (bpd) within 12 months.

Not ruling out an oil price decline on weaker winter demand.

Further supply decision will depend on market.

Countries have potential to raise oil output.

Author

Dhwani Mehta

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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Russia’s Novak: Russia has potential to add 300,000 barrels per within 12 months