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Russia flexible on oil output levels but wants consensus - Novak

Russia flexible on oil output levels but wants consensus - Novak
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ST PETERSBURG (Reuters) – Russian Energy Minister Alexander Novak said on Thursday that Moscow was flexible regarding possible changes to oil production levels but insisted that any decision be consensual.

“We’re flexible on taking any decisions including decisions on changing production levels,” Novak told CNN. “But this should be a unanimous decision by all parties involved.”

Novak added that the global oil glut was over.

OPEC and non OPEC states will convene in Vienna next month to discuss the future of the global deal on oil output.

(Reporting by Rania El Gamal in Dubai; Writing by Gabrielle Tétrault-Farber; Editing by Alexandra Hudson)

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