OPEC-non-OPEC Output Cut Decision Good Signal For Market To Continue Cooperation - Novak

Mohammad Ali (@ChaudhryMAli88) Published December 07, 2018 | 11:21 PM

The OPEC-non-OPEC made an important and compromise decision to cut oil production, it should stabilize the situation on the world oil market and is a good signal to continue cooperation within the alliance, Russian Energy Minister Alexander Novak told reporters Friday.

VIENNA (UrduPoint News / Sputnik - 07th December, 2018) The OPEC-non-OPEC made an important and compromise decision to cut oil production, it should stabilize the situation on the world oil market and is a good signal to continue cooperation within the alliance, Russian Energy Minister Alexander Novak told reporters Friday.

"It is obvious that today a very important and reasonable decision was made, a compromise decision on an additional reduction in the volume of production by OPEC and non-OPEC countries... This should ensure, among other things, a better situation in balancing the market. I would like to emphasize that it is a good signal for the market that our interaction continues and we are able to react to any situation," Novak said.