Russia has no plans to raise oil production - Novak
Share:
MOSCOW (Reuters) - Russia has no plans to increase its oil output as the market has been oversupplied, Russian Energy Minister Alexander Novak told Reuters on Thursday. International crude prices have fallen around 50% to under $26 a barrel since the Organization of the Petroleum Exporting Countries and other large oil producers led by Russia failed last month to agree to extend their deal to curb output. However, they jumped 10% on Thursday after U.S. President Donald Trump said he..