OPEC and its allies held their ministerial monitoring committee meeting, known as the JMMC, on Sunday in the Saudi Arabian city of Jeddah.
Russia has been vocal about raising production while OPEC's de-facto leader, Saudi Arabia, has been wary of a possible price crash that an output increase could cause. "As far as our joint plan of action for the second half of the year. We are supportive of continuing our cooperation with our colleagues from other countries and OPEC non-OPEC countries," Novak told CNBC's"But this continuation could depend to various extents on how the situation unfolds by this time and what the forecasts for supply and demand will be on the market.
Russia has been vocal about raising production while OPEC's de-facto leader, Saudi Arabia, has been wary of a possible price crash that an output increase could cause. The output cuts have so far this year helped oil prices to rise more than 30%.
Drill baby drill
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Russia's Novak - too early to discuss proposals to OPEC and non-OPECRussian energy minister Alexander Novak said on Sunday it was still too early to... .
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Source: Reuters - 🏆 2. / 97 Read more »
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Exclusive: Saudi's Falih says sees no oil shortage, but OPEC to act if neededSaudi Arabia's Energy Minister Khalid al-Falih said on Saturday that he saw... So fight a war with Iran on their behalf AND higher gas prices winning realDonaldTrump Wonder how our, governing by deal, President, is doing with these, “friends”, guess we have the upper hand, here, too!!! Could we trust in a guy with a towel on his head ?
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