Comments by Russian energy minister, Alexander Novak
- Too early to say if a meeting could take place on 14-15 February
- There is a lot of uncertainty and "panic attacks" in the oil market
You can definitely bet that Russia would not be too keen to cut oil production further, considering they're not even playing ball with the current set of output cuts already. But perhaps the demand dip due to the coronavirus outbreak may change that.
We will have to wait and see. For now, oil is holding up well on the day and is keeping above the $50 level still as we look towards North American trading.
