Comments by Russian energy minister, Alexander Novak

  • Global oil market may start rebalancing in 2H 2020

He also says that counting on the oil market balancing out the imbalance starting from next month once the OPEC+ deal is enforced. These are all pretty words but let's see if they will walk the walk after talking the talk. Remember, Russia didn't have the best track record in complying to output cuts in the previous OPEC+ agreements.