MOSCOW (Pakistan Point News / Sputnik - 21st April, 2021) If nothing extraordinary happens, the OPEC+ meeting, scheduled for April 28, will focus on analyzing the situation in the oil market, Russian Deputy Prime Minister Alexander Novak said on Wednesday.
"We have a meeting scheduled for the end of April to once more monitor the situation, assess the current situation and forecasts. As you may remember, our last meeting focused on a plan of action for three months. So, I think if nothing extraordinary happens, we have already agreed on the plans for three months, so we will have to take a look, perhaps, to confirm the plans. The meeting is most likely aimed at discussing the current situation," Novak told reporters.
Novak expressed the belief that there is currently no need to discuss the US bill allowing anti-trust lawsuits against OPEC, since it has not been yet signed into law.
"The legislation has not been adopted yet. It has been discussed for many years. I believe there is currently no need to comment on the law that has not been adopted," Novak said, at the same time noting that limitations on market stabilization measures could trigger new risks.
The Russian official qualified the current market situation as "balanced."
"If there is some deficit, we always have an opportunity to amend the decisions and boost production," Novak continued.
