Russian Energy Minister Alexander Novak has his focus on longer-term market factors rather than President Donald Trump's tweets, he said Thursday.
His comments come shortly after the conclusion of the Joint Ministerial Monitoring Committee in Abu Dhabi, with OPEC allies agreeing to ask over-producing members to bring production back in line with their targets.
Asked about his reactions to the U.S. president's social media missives, which often target OPEC policies and are known to move markets without warning, Novak told CNBC's Hadley Gamble: "You know, we are looking at all the factors that one way or another effect the prices. But in particular for us, it's the balance between supply and demand."
"Therefore, in my view, these are not fundamental factors. Fundamental factors do not lie in words but actions."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Controversial Trump aide John Bolton exits WH knocking TrumpPresident Trump has fired controversial National Security Advisor John Bolton on Twitter, after they ‘strongly disagreed.’ Sparking more controversary, Bolton offered a different recount, saying he previously ‘offered to resign.’ Former Obama official Richard Stengel argues ‘the problem with replacing Bolton’ is ‘when someone leaves the Trump administration, they’re never replaced by a better actor.’
Read more »
Chrissy Teigen Says Her Night Was “Ruined” After Donald Trump TweetHer Sunday was unlike any other...
Read more »
Report: Trump Was Behind Pressure On NOAA To Agree With His Incorrect TweetTrump inaccurately tweeted that Alabama was going to be hit hard by Hurricane Dorian.
Read more »
NOAA chief defends Alabama office after Trump Dorian tweetThe head of the National Oceanic and Atmospheric Administration on Tuesday defen...
Read more »
Former Fed Vice Chair Kohn backs rate cut, rejects Dudley suggestion to foil TrumpIn a CNBC interview, Kohn indicated he believes the Fed will follow market expectations and lower its benchmark overnight lending rate by 25 basis points at its Sept. 17-18 meeting.
Read more »