Russia’s Novak: Russia is committed to see OPEC cuts deal through to the end

Dhwani Mehta FXStreet

The Russian Energy Minister Alexander Novak was on the wires earlier today, via Bloomberg TV, noting that Russia is committed to OPEC cuts deal through to the end.

Additional Headlines:

Committed to seeing its pact with OPEC through to completion.

Whether that means starting discussions of a phase-out at next meeting.

Or possibly prolonging cuts into 2019.

As soon as the balancing of the market is achieved, then will start considering gradual withdrawal.

Balancing of the market may happen in Q3 or Q4.

Discussions of exit strategy in OPEC's June meeting can't be ruled out.

Isn't worried about growth in shale oil.

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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