There is no more oil output deal between Russia, its allies and members of OPEC oil-producing countries, Russian Energy Minister Alexander Novak said on Friday, adding that the OPEC+ group of nations would continue to monitor the market situation.
"Considering the decision taken today, from April 1 of this year onwards, neither we nor any OPEC or non-OPEC country is required to make (oil) output cuts," Novak said.
(Reporting by Olesya Astakhova and Polina Ivanova; Writing by Katya Golubkova; Editing by David Goodman)
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Alexander Valentinovich Novak is the Deputy Prime Minister of Russia. Presently, he is Chairman at Transneft PJSC and Chairman of ROSSETI PJSC. Mr. Novak is also on the board of 5 other companies. In his past career he occupied the position of Deputy Governor at Province of Krasnoyarsk and Deputy Director-Personnel & Head-Polar Division at Norilsk Mining & Metallurgical Combine Named After Zavenyagin. He received an undergraduate degree from Norilsk State Industrial Institute and an undergraduate degree from Moscow State University Lomonosov.
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