Novak Expressed Hope For OPEC+ Making Reasonable Decision On Future Cooperation

Novak Expressed Hope for OPEC+ Making Reasonable Decision on Future Cooperation

Russian Deputy Prime Minister Alexander Novak on Thursday expressed hope at the OPEC+ meeting that the alliance would make a reasonable and thoughtful decision on future oil cuts

MOSCOW (Pakistan Point News / Sputnik - 03rd December, 2020) Russian Deputy Prime Minister Alexander Novak on Thursday expressed hope at the OPEC+ meeting that the alliance would make a reasonable and thoughtful decision on future oil cuts.

Earlier in the day, the OPEC+ energy ministers started their meeting, which was postponed from Tuesday amid the differences within the alliance on the future oil cuts. The ministers now have to decide whether to extend the existing cuts of 7.7 million barrels per day or ease the oil output cuts to 5.8 million barrels per day starting from January 1.

"We all understand that the gaze of the whole world is directed towards us today. This responsibility is already painfully familiar to us, and I am more than sure that we will make an informed, balanced decision regarding the parameters of our cooperation," Novak said.

2020 has proved to be a big challenge to the energy industry and OPEC+ is able to alleviate the crisis by making a right decision, the deputy prime minister stressed.