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FILE PHOTO – Russian Minister of Energy Alexander Novak attends a session of the International Forum of Energy Week in Russia in Moscow on October 3, 2018. REUTERS / Sergei Karpukhin
BAKU (Reuters) – Russian Energy Minister Alexander Novak announced on Sunday that a decision would be taken by May or June on the continuation of the oil pact between the US and Russia. OPEC and non-OPEC members during the second half of this year.
Novak said Russia was committed to the supply-side pact, which is due to expire in June.
Currently, the group believes that oil prices are stable and that volatility is low, said Novak. Demand will increase in the second and third quarters, he added.
Report of Vladimir Soldatkin; Written by Polina Ivanova
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