Russia’s Novak: OPEC+ sees no need for further oil output cuts RussianFederation Oil WTI Commodities OPEC
Russian Deputy Prime Minister Alexander Novak said on Wednesday, “OPEC and its allies sees no need for furtherThe global oil market is balanced.We don't see oil market deficit after OPEC+ cuts starting from May.Russia's gas condensate output to decline in 2023.Russia achieved the necessary oil output cut level in April.Market reaction
WTI is testing daily highs near $74.70 on the above comments. The US oil is adding 0.45% on the day, as of writing.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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