Novak says Russia, other producers support extending global deal

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 - Copyright Maxim Shemetov(Reuters)

By Reuters

Published on 29/06/2019 - 16:04•Updated 11/05/2024 - 01:30

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OSAKA (Reuters) - Russian Energy Minister Alexander Novak said on Saturday that Russia and other oil producers have all supported a proposal to extend the global oil output cut deal, adding it would be better to extend production cuts by 9 months.

"I think the decision on extension is rather consolidated," Novak said on the sidelines of the G20 summit in Japan's Osaka ahead of OPEC and non-OPEC meeting in Vienna due next week.

Novak also said that the crisis over contaminated crude in a Russian-owned pipeline network was over. He said Russia now needs to deal with tainted crude oil that is kept in storage.

(Reporting by Katya Golubkova; Writing by Andrey Ostroukh; Editing by Alexander Smith)

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