Russia’s Novak says OPEC+ remains efficient tool for global oil market – Reuters
- Date: 26-Apr-2023
- Source: Reuters
- Sector:Oil & Gas
- Country:Saudi Arabia
Russia’s Novak says OPEC+ remains efficient tool for global oil market – Reuters
April 26 (Reuters) - Russian Deputy Prime Minister Alexander Novak said on Wednesday that OPEC+, the group of leading oil producers, remains an efficient tool for coordination on global oil markets.
The Organization of the Petroleum Exporting Countries and other large oil producers led by Russia have been seeking to cordinate their actions on world oil markets since 2016.
Saudi Arabia and other OPEC+ oil producers earlier this month announced further oil output cuts of more than one million barrels per day after crude prices fell in March towards $70 a barrel, the lowest in 15 months.
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