G20 Meeting May Offer More Clarity For OPEC, Non-OPEC: Russia’s Novak

www.oann.com | 6/28/2019 | Staff
magiccastlemagiccastle (Posted by) Level 4
OSAKA (Reuters) – Russian Energy Minister Alexander Novak said on Friday he hoped a meeting of G20 nations in Japan would provide clarity for OPEC and non-OPEC oil producers as they consider whether to extend a deal on cutting crude supplies beyond June.

The presidents of the United States and China are expected to discuss their ongoing trade war at the G20 summit. The outcome of the row will affect global economic growth and oil demand.

Market - Phase - Hand - Terms - Supply

“The market is currently in a very interesting phase. On one hand, it seems to be balanced in terms of supply and demand. But on the other hand, there are so many uncertainties,” Novak said.

“We hope that there will be more clarity and more visibility after the G20 summit in Osaka,” he said, adding that he expected the oil producers to take a balanced decision about supplies.

Organization - Petroleum - Exporting - Countries - States

The Organization of the Petroleum Exporting Countries and non-OPEC states, a group known as OPEC+ that has been led by Saudi Arabia and Russia, meet in Vienna...
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