Russia is closely watching how the outbreak of coronavirus in China is affecting the global energy market, Energy Minister Alexander Novak said Tuesday, adding the situation was still uncertain
MOSCOW (Pakistan Point News / Sputnik - 11th February, 2020) Russia is closely watching how the outbreak of coronavirus in China is affecting the global energy market, Energy Minister Alexander Novak said Tuesday, adding the situation was still uncertain.
The OPEC, a group of major oil producers and their allies, had a technical committee meeting last week. It recommended deeper output cuts to shore up prices after the epidemic hit demand in China, a top buyer. Novak said Russia would make up its mind this week.
"Russia is closely watching the spread of coronavirus into energy markets globally. The situation remains extremely uncertain," Novak was quoted as saying by the Energy Ministry's press office.
He noted the "importance and urgency" of the work done by the technical committee in an effort to stabilize the market, saying Russia would study its recommendations to find a balanced approach that would be in the interests of the entire energy market.
