01:05Mandatory credit: OPEC
Russia together with the Organisation of the Petroleum Exporting Countries (OPEC) and a group of allied countries agreed to increase its oil production by 500,000 barrels per day starting from January.
In the online conference organised in Vienna on Thursday, Russian Energy Minister, Alexander Novak, stated the "necessity of a gradual return to two million barrels per day of (oil) production to the market. The speed of the recovery must be regulated basing on the results of the market analysis."
Abdul Aziz bin Salman al Saud, Saudi Oil Minister in turn added, "it is all about addressing uncertainty. If you have an uncertain situation you need to be attentive. That's why central bankers - they meet every month. That's why tweaking happens at all levels. This is a grand arrangement, this is a grand commitment."
Austria: Novak stresses 'necessity' of return to 2 mn barrels of oil prod. per day following OPEC deal
Russia together with the Organisation of the Petroleum Exporting Countries (OPEC) and a group of allied countries agreed to increase its oil production by 500,000 barrels per day starting from January.
In the online conference organised in Vienna on Thursday, Russian Energy Minister, Alexander Novak, stated the "necessity of a gradual return to two million barrels per day of (oil) production to the market. The speed of the recovery must be regulated basing on the results of the market analysis."
Abdul Aziz bin Salman al Saud, Saudi Oil Minister in turn added, "it is all about addressing uncertainty. If you have an uncertain situation you need to be attentive. That's why central bankers - they meet every month. That's why tweaking happens at all levels. This is a grand arrangement, this is a grand commitment."
Mandatory credit: OPEC
Russia together with the Organisation of the Petroleum Exporting Countries (OPEC) and a group of allied countries agreed to increase its oil production by 500,000 barrels per day starting from January.
In the online conference organised in Vienna on Thursday, Russian Energy Minister, Alexander Novak, stated the "necessity of a gradual return to two million barrels per day of (oil) production to the market. The speed of the recovery must be regulated basing on the results of the market analysis."
Abdul Aziz bin Salman al Saud, Saudi Oil Minister in turn added, "it is all about addressing uncertainty. If you have an uncertain situation you need to be attentive. That's why central bankers - they meet every month. That's why tweaking happens at all levels. This is a grand arrangement, this is a grand commitment."