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)