Russia’s Novak says all producers favor nine-month oil output deal extension

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FILE PHOTO: Russian Energy Minister Alexander Novak attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 6, 2019. REUTERS/Maxim Shemetov/File Photo

VIENNA (Reuters) – Russian Energy Minister Alexander Novak said on Monday that all OPEC and non-OPEC countries favored extending their global oil output deal by nine months under the same terms agreed in December.

“Everyone supported the general proposal to extend by nine months. The OPEC meeting will happen today where these proposals will be looked at. The JMMC recommended specifically this option for further cooperation,” Novak told reporters.

Reporting by Olesya Astakhova; writing by Tom Balmforth; editing by Jason Neely



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