Comments by Russian energy minister, Alexander Novak
In his words:
"The market is currently in a very interesting phase. On one hand, it seems balanced in terms of supply and demand. But on the other hand, there are so many uncertainties. We hope that there will be more clarity and more visibility after the G20 summit in Osaka."
Adding that he expects oil producers to take a 'balanced decision' when they meet on 1-2 July next week. If anything else, this doesn't sound like someone who is particularly prepared to continue with the current production cuts deal - not like they were contributing much to it in the first place anyway.
