Comments by Russia's energy minister Alexander Novak
- Aims to fully comply with OPEC+ output cut deal
- Russia is in talks with Saudi on coordination mechanism post-OPEC+ deal
- To discuss Saudi proposal for a long-term pact at the end of April
Novak also says that he has held preliminary discussions with his Saudi counterpart, Khalid Al-Falih and that the cooperation may include information exchange, joint market actions, regular meetings.
He adds that output caps is "no cure-all" for the oil market, suggesting that a wider range of methods is necessary in the long-term.
Well, he's not wrong there. Though I'm also not too sure what else they can do to be honest.
